Spring 2008 Newsletter Content Winter Of Discontent CGT Winners CGT Losers Shifty Business Anything To Declare? Long Arm Of The Law Irreplaceable You Earn As You Pay Ask Questions Later Capital Ideas ISA ISA ISA Referee! Go Green VAT Or No VAT? Taking The Register Close Encounters May Contain Nuts Going Concern Ancient History Business And Pleasure Do Your Duty Know Your Rights Time To Go? Passing The Buck

Winter Of Discontent Poor Alistair Darling. Promoted to Chancellor and immediately hit by a large (Northern) Rock - and running into a firestorm of criticism for his attempt to simplify Capital Gains Tax in his first Pre-Budget Report. All he needs now is the discovery of an enterprising trader at a British bank who has been competing with the French in the financial markets... In the middle of all this turbulence, the Chancellor is supposed to be preparing for his first proper Budget in March. We know some of the contents in detail because Gordon Brown told us about them last year - a 2% cut in the basic rate of income tax and changes to the rates of corporation tax. Some other things were outlined last year or in the Pre-Budget Report and we are waiting for the final version - including some very important changes for CGT, capital allowances, foreign domiciled people and husband-and-wife businesses. In one of his first public statements Mr Darling said "we must continue to simplify the tax system further wherever we can". Some people will take this as a good sign - perhaps he will make it easier to comply with a British citizen's many taxpaying duties. But the words "continue" and "further" are worrying - if he really believes that Gordon Brown has simplified anything in the last 10 years, he may not be up to the job. Whatever he does, we will keep you informed - and we will be ready to help you deal with tax whether it becomes simpler or more complex.