Samples of articles
As an example of the information that LMSC subscribers receive we have listed 3 sample articles, chosen at random, from our recent archive.
Pre-Budget Report 2009
The
Chancellor delivered his much-anticipated Pre-Budget Report
on 9 December. The headlines on issues that might possibly affect the voluntary
sector are as follows:
- as anticipated, VAT will return to 17½ per cent on 1 January 2010 but there were no other VAT changes: the PBR confirms arrangements to smooth the transition with a "period of grace" for businesses trading across the midnight deadline to charge the lower 15 per cent rate until they close (or until 6 am, whichever is earlier) and plans to let shops add the extra VAT to prices at the tills for up to 28 days, giving them extra time to complete the re-pricing of their stock;
- employer, employee and self-employed rates of National Insurance will rise by a further half per cent from April 2011;
- the increase in corporation tax for smaller companies will be deferred and the 2010 tax rate left unchanged;
- there will be no changes to income tax rates or thresholds for 2010-11 except for some changes in what can be tax-deductible; but in April 2012 the point at which people start paying income tax at 40 per cent will be frozen for one year;
- for 2010-11, empty commercial properties with a rateable value below £18,000 will be exempt from business rates;
- the Chancellor is sticking to his current spending plans for 2010-11;
- the Time to Pay scheme, under which small businesses can spread their tax payments over a timetable that they can afford is to be extended for as long as is needed;
- the Enterprise Finance Guarantee launched in January 2009 will be extended for a further twelve months, which will guarantee a further £500m of loans to small businesses;
- the Warm Front scheme will be replenished to the tune of an additional £200m, with the intention of helping a further 75,000 households.
As to general economic prospects, the Treasury estimates that the economy will have shrunk by 4.75 per cent over the current year; however, the Chancellor expects a return to growth in the fourth quarter of the current year and growth of between 1 and 1.5 per cent for 2010-11.
There was little in the PBR of special interest to the voluntary sector. One matter that might be worth pursuing, however, is the announcement of financial support for up to 10,000 undergraduates from low-income backgrounds to take up short internships in industry, business and the professions in order to 'give them a taste of careers which they may not otherwise have considered'. Further details will be announced shortly, but it may mean a new source of bright undergraduate interns to work in voluntary-sector organisations.
Article information
- Date: 09 December 2009 (Posted: 09 December 2009)
Of additional interest:
Compact
The Cabinet Office has announced that Richard Corden, interim Chief Executive of the Commission on the Compact, is to take on the role on a permanent basis.
Article information
- Date: 07 June 2008 (Posted: 07 June 2008)
Of additional interest:
Budget 2003: Support for acquisition of works of art and culture
The Chancellor has announced that the Government will review the options available for improving support to regional and national museums enabling them to acquire and make works of art and culture accessible to all.
This announcement is in line with the Government's commitment to improving access to items of cultural and historical significance.
The 2001 Budget introduced a new scheme to refund national museums and galleries the VAT they incur on purchases when they allow free admission to the public.
Article information
- Date: 11 April 2003 (Posted: 11 April 2003)
Of additional interest: