PBR: I was out drinking and missed everything

[swamp]

Can someone let me know the gist of the PBR please? I was at my work Christmas Lunch and I've missed everything.

[norrahe]

KEY POINTS
National Insurance up by a further 0.5% from April 2011
Economy to shrink by worse than expected 4.75% this year
New 50% tax on banker bonuses
Household boiler scrappage scheme
1p rise in corporation tax for small firms scrapped
Tax rebates for electric cars and wind turbines
Bingo duty falls from 22% to 20%
State pension to rise by 2.5% next year
More help for young unemployed

[DimPrawn]

KEY POINTS
National Insurance up by a further 0.5% from April 2011
Economy to shrink by worse than expected 4.75% this year
New 50% tax on banker bonuses
Household boiler scrappage scheme
1p rise in corporation tax for small firms scrapped
Tax rebates for electric cars and wind turbines
Bingo duty falls from 22% to 20%
State pension to rise by 2.5% next year
More help for young unemployed

Deck chairs on Titanic due for re-arrangement April 2010.

[Mich the Tester]

KEY POINTS
National Insurance up by a further 0.5% from April 2011
Economy to shrink by worse than expected 4.75% this year
New 50% tax on banker bonuses
Household boiler scrappage scheme
1p rise in corporation tax for small firms scrapped
Tax rebates for electric cars and wind turbines
Bingo duty falls from 22% to 20%
State pension to rise by 2.5% next year
More help for young unemployed

Cue all bankers setting up as contractors.

[swamp]

Sounds like a big nothing then! Most things are delayed until 2011 when the Tories will be in power anyway and will fix everything.

Thanks for filling me in. I'm going to read the rest of the Internet now for the remainder of the afternoon.

Hic!

[NickFitz]

..when the Tories will be in power anyway and will fix everything.

[swamp]

I admit this is a tad optimistic...

However, I have news:

http://www.hmrc.gov.uk/pbr2009/pbrn33.pdf

"Computer and IT consultancy or data processing 13[%]"



Back to where it was. I said it would go to 14% and I was wrong.

[norrahe]

Sounds like a big nothing then! Most things are delayed until 2011 when the Tories will be in power anyway and will continue the mess that the one eyed snot goblin started

[TheFaQQer]

I admit this is a tad optimistic...

However, I have news:

http://www.hmrc.gov.uk/pbr2009/pbrn33.pdf

"Computer and IT consultancy or data processing 13[%]"



Back to where it was. I said it would go to 14% and I was wrong.

Woo hoo.

[TheFaQQer]

Cue all bankers setting up as contractors.

Why would bankers set up as contractors?

The bonus tax is a one off measure for bonuses paid out by banks between now and April 5th 2010. I haven't read the section of the PBR that details how this will actually work in practice, yet.