Budget 2009 Highlights

April 23rd 2009

The public finances have declined drastically. Between 2008/09 and 2009/10 Income Tax receipts will drop by £12bn, VAT by £15bn, CT by £9bn, CGT by £5.6bn and Stamp Taxes by £3bn. Between 2007/08 and 2009/10 total HMRC receipts are expected to decline by £57bn or 13%.

What is to be done? Well the answer is in the Treasury’s 268 page Report, HMRC’s 222 pages of Budget Notes  http://www.hmrc.gov.uk/budget2009/rn-complete.pdf, 42 pages of Press Notes, 3 Consultation Documents, 2 Reports and 8 Other Documents. The Finance Bill to deal with the 93 different items should be interesting.

For more information on the 2009 Budget Report, click here to visit our overview.