Watch this space for Budget highlights on Wed 24 March. Follow my Budget tweets on http://twitter.com/dbsellek Call me on 01344 620495 or visit Taxation for top tax saving tips before 5 April.

In the meantime, here are my top Budget predictions:

Corporation tax to remain static I don’t envisage any changes to Corporation tax as companies are the government’s building blocks for re-structuring the economy.

The Chancellor deferred the increase of Corporation tax from 21 to 22% in the Pre-budget and I think this will happen again in the Budget. The small companies’ tax rate applies to all qualifying companies with profits of no more than £300,000. 

The main rate of Corporation Tax kicks in when company profits exceed £1.5m and at 28% looks expensive internationally so I don’t expect any increase here.

Contact Mark Busby on 01344 620495 or email your Enquiry - for advice on running a tax-efficient business.

No change to Capital Gains

Capital Gains Tax is hotly tipped to increase in the near future as it is currently misaligned with income tax rates. If you are considering selling any assets then best to do so before the Budget. Make use of any Capital Gains allowance (£10,100) before it expires on 5 April.

Don’t forget you can double your Capital Gains allowance to £20,200 by sharing any capital gains with your spouse. You can register investments in joint or sole names and married couples and civil partners can share income 50:50 by simply registering title in joint names. Transferring assets to your spouse if they are lower earners has additional benefits too. Make use of their personal allowance (£6,475) and your spouse’s basic rate tax band at 20% on earnings up to £37,400.

The absence of any change to CGT is seen by many commentators to be linked to the forthcoming election. So once this has passed changes to tax are anticipated. By acting now it is possible to fix your CGT rate to 18% even if you still want to keep possession of the asset.

Contact Mark Busby on 01344 620495 or email your Enquiry - for more information on fixing your CGT rate.

Freeze on personal allowance and basic tax rates

Personal allowances and the basic rate band have been kept the same for two years now and it would not surprise me if this continued into 2011/12 despite the resurgence of inflation. This would provide a stealthy way to increase taxes and alleviate some of the pressures that must exist on the Chancellor to push up the basic rate of income tax.

Contact Mark Busby on 01344 620495 or email your Enquiry - for the latest personal allowance and tax rates.