Old Bank House, High Street, Odiham, Hants RG29 1LF
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Anthony de Jong & Co
Chartered Accountants & Business Advisers
Regulated for a range of investment business activities by the
Institute of Chartered Accountants of Scotland
BUDGET SUMMARY 2009
wElcoMEAlistair Darling presented his
second Budget on Wednesday
22 April 2009. Having
acknowledged the depth of the
recession, he hinted that the
Budget measures would enable
the UK economy to begin to
grow ‘by the end of the year’.
As always the timing of the
changes needs to be carefully
watched – some are immediate
but some are delayed to 2010
Our summary focuses on the
issues likely to affect you, your
family and your business. To
help you decipher what was
said we have included our own
If you have any questions
please do not hesitate to
contact us for advice.
Main Budget proposals
Introduction of a 50% top rate of tax for
those with income over £150,000 from
2010 and phased reduction of personal
allowances for those with income over
Increases in ISA limits from October
this year for those aged over 50 and for
everyone from April 2010.
Enhanced relief for trading losses
extended by a further year.
Short term increase in capital allowances
on most plant and machinery.
Extension of the furnished holiday
lettings scheme to properties in the EEA
but then the removal of the scheme
completely from April 2010.
Names of deliberate tax defaulters to
be published where default was tax in
excess of £25,000.
Many of the changes detailed in this
summary have been the subject of earlier
announcements. Here is a reminder of
some of the more important ones:
removal of the £12,000 ‘expensive car’
limit for capital allowance purposes
availability of non-repayable tax credit
on overseas dividends received by any
removal of tax charge for companies on