Clarity. Gain a precise view of the Budget 2009

The Budget was full of lots of headline-grabbing measures - but many of them will apply to few people.

The top rate of tax will rise to 50% for the 350,000 people with income over £150,000 - from April 2010. At the same time, those with income over £100,000 will lose all personal allowances - which will cost about 700,000 people something like £220 pm. Tax deductions for pension contributions for those earning over £150,000 will be limited to basic rate - from April 2011, with some rules to stop early contributions. These measures are expected to raise £7 billion pa.

Business reliefs are modest. The £50,000 loss relief rule will be extended for a second year - allowing loss-making businesses to recover tax paid in the three previous years. However, the refund for a company is only £10,000 - so not a huge help. No further help for empty properties, though. There's an increase in Capital allowances for expenditure in the year to April 2010. However, the NPV is very small, so won't encourage extra investment.

The much heralded scrappage scheme will offer £2,000 to those who buy a new car; however, much of this money will end up financing cars manufactured overseas.

There are important new powers in relation to tax evasion and tax reporting. There will be a defaulters list, so that those who deliberately evade tax of £25,000 will be named. Finance directors will need to take personal responsibility for company tax filings.

Finally, the Foreign Profits measures will come in this year. The dividend exemption will apply from 1 July 2009 but the tax-raising interest restrictions will apply only from accounting periods starting on or after 1 January 2010 - a welcome delay.

Deloitte newsroom

• Deloitte comments on the Government's announcement on trade credit insurance
• Government's introduction of a scrappage incentive could jump-start UK new car sales
• Deloitte comments on the impact of today's Budget on entrepreneurial business
• Deloitte comments on the Government's announcement on North Sea Tax
• Overall this was a disappointing Budget for property
• High earners take brunt of Budget changes
• Deloitte comments on the Government's announcement about the Renewables Obligation
• Deloitte comments on the Government's announcement about Landfill Tax (LFT)
• Deloitte comments on the Government's announcement about green taxes