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Budget 2009

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Against the backdrop of a recession, the severity of which has not perhaps been seen since the end of the Second World War, the Chancellor, Alistair Darling delivered one of the most important Budgets in decades on 22 April.

As well as raising income tax for high earners to 50 per cent as from next year, Mr Darling pledged various support measures for business, including a credit guarantee scheme, an extension of the Œcarry-back¹ relief that allows loss-making firms to reclaim taxes on profits made in the last three years and a temporary increase to 40 per cent in the capital allowance rate.

Follow the link to read all about the 2009 Budget and its implications for both businesses and individuals.