Gordon Brown announced yesterday that the budget will be on 24th March. Generally a month's notice is given, but political maneouvering meant that the government had delayed confirming the date.
So, once the next year's budget has been delivered, we can all commit to our tax planning for the next year, right? Well, no, it's probably not as easy as that. Because we're quite likely to have two budgets this year. If, as looks perfectly feasible at the moment, we have a change of government in a couple of months, the incoming government is almost certainly going to immediately set a new budget of their own.
So be careful - you might want to put off any major tax-sensitive decisions that rely upon the first budget until the summer, when the position should be clearer.
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