Clarity. Gain a precise view of the Pre-Budget Report 2008

Chancellor Alistair Darling has announced that he will deliver his 2008 Pre-Budget Report on 24 November, at 15.30.

We expect that the Chancellor will focus on the current economic outlook, including his growth forecasts for the UK and tax, spending and borrowing figures for the current financial year. The Chancellor will set out his long-terms plans for dealing with the abolition of the 10% tax rate; the September increase in personal allowances was stated to be for this year alone. The PBR is also the time when the personal allowances, benefits rates and national insurance rates for the next tax year are announced. These are based on the September RPI, which peaked at 5% - unless the Chancellor chooses to override and set different rates.

Business will look out for an announcement on whether the Foreign Profits reform will go ahead in 2009. If the Chancellor does go ahead, it is expected that we'll see a new tax exemption for dividends from overseas companies paid to UK companies, together with some new limits on the deductibility of interest. It is also possible that there will be an update on the 'disguised interest' proposals, consulted on over the summer.

Deloitte will be providing expert analysis on the PBR, both leading up to, and throughout the day itself.