Pre-Budget Report 2009


Personal tax

Tax rates and allowances

Furnished holiday lettings

Pensions and Credits

State Pension

Rates of tax credit

National Insurance Contributions

Rates and limits: 2010/11

Rates and limits: 2011/12


Bankers' bonuses

Electric cars and vans

Cars up to 2012

Car fuel

Works canteen


Pension contributions

Capital Gains Tax

Annual exemption and rate

Inheritance Tax

Rates and threshold

Stamp Duty/Stamp Duty Land Tax

Extended holiday ends

Corporation Tax

Rate of tax

Business Tax

Bank payroll tax

Capital allowances

Research and development

Time to pay

Empty property rates relief

Value Added Tax

Standard rate

Flat rate

Other Measures

Equitable liability

Offshore disclosure opportunity

Public sector pay and pensions

Tax avoidance

Looking for the pot of gold at the end of the recession

When you are in a hole, the saying goes, you should stop digging. For the Chancellor of the Exchequer, there is no choice - he has to make a Pre-Budget Report at the end of the year to outline what he intends to put in his Budget in the Spring. This year many people are predicting that the country's finances will not be Alistair Darling's responsibility for much longer, but he still has to tell us what he will do if we give his party another five years.

He had a very difficult balance to strike between the demands of politics - not wanting to scare the voters too much - and economics - trying to convince the world's markets that the UK's finances would be restored to health in the foreseeable future. He has announced a number of significant measures, but many people are still wondering whether there is enough here to fill the deficit: there is surely more pain to come, in higher tax or in cuts to public spending, which will have to be announced after the election by whichever party is in power by then.

The Shadow Chancellor, George Osborne, was quick to criticise the proposals, but it's not yet clear what he would do instead. Mr Darling tries to portray the Conservatives as more likely to send the country back into recession, while Mr Osborne says that Labour has failed to address the huge public sector debt, and will leave the country bankrupt.

Whoever is right - and it is possible that they both are - the Pre-Budget Report contains a number of detailed proposals behind the headlines. This document explains the main announcements so you can see how they might affect you.