With his sights fixed firmly on number 10 Downing Street, not number 11, Chancellor Gordon Brown’s budget features a number of measures designed to create popular support, whilst preserving his reputation as a ‘no-risk’ Chancellor by keeping most changes at the levels required by inflation only.

The budget features a large number of anti-avoidance provisions, which include the extension of the powers of HM Revenue and Customs (HMRC) to exchange information with foreign tax authorities regarding indirect as well as direct taxes and a general extension of the types of tax avoidance measures that must be notified to HMRC. However, hidden in the depths of the HMRC budget notes are a couple of bombshells.

If you have any queries relating to how aspects might effect you or your business then contact Clarke & Sons on 01256 320555 or email mail@clarkeandson.co.uk and we will be happy to offer you advice.