Alistair Darling delivered his first Budget speech today. Unlike the Pre-Budget Report, there have been no major surprises, when the abolition of taper relief and the charges for ‘non-doms’ were announced. However, there are still a considerable number of changes and previously announced proposals in a number of areas that have been confirmed. Further details may be found in the articles below.
-
Corporate Tax Rates
What's going up? What's going down? Whats happening with Associated companies?...
12 March 2008
-
Tax Relief for R&D and Vaccine Research
The announcement was made in Budget 2007 that the enhanced reliefs for research and development available to companies would be extended...
12 March 2008
-
Changes to VCT, EIS and Corporate Venturing Scheme Reliefs
Subject to State Aid Approval from the EU, the annual investment limit for EIS Income Tax purposes will be increased...
12 March 2008
-
Tax Residence- Visits to the UK
What level of visits to the UK are sufficient to make an individual UK resident?...
12 March 2008
-
Foreign Dividend Income
There are two changes proposed for UK taxpayers receiving dividends from abroad...
12 March 2008
-
Taxation of non-domiciled individuals
The Chancellor has announced further details of the new regime to apply to non-domiciled individuals...
12 March 2008
-
Changes to HMRC Powers
At present, HMRC are able to make concessions outside of the strict interpretation of statute that affect the amount or payment of tax...
12 March 2008
-
New anti-avoidance on double tax treaty abuse
The Government is to introduce legislation with specific reference to an avoidance scheme for UK residents...
12 March 2008
-
More Inheritance Tax changes to trusts
The Chancellor has announced an extension to the transitional period for the new inheritance tax rules for trusts...
12 March 2008
-
Employment tax issues
This article provides a few highlights from the Budget as they impact on employment taxes...
12 March 2008
-
Gift Aid - Compensating Charities
Gift Aid claims for donations made on or after 6 April 2008 will continue to be processed as previously but using the new 20% basic rate of income tax...
12 March 2008
-
Capital Allowances Reform
The proposed reforms of the capital allowances system are set to proceed broadly in line with the consultation, with no major surprises...
12 March 2008
-
Tax payments by credit card
A long awaited change to the way tax can be paid will be introduced in the Autumn of 2008 when taxpayers will be allowed to pay their debt by credit card...
12 March 2008
-
Simplification of the Appeals procedure
Alongside the new Tribunals, Courts and Enforcement Act 2007 governing appeals against HMRC decisions...
12 March 2008
-
Insurance Premium Tax
HMRC have announced the removal of the requirement for overseas insurers to appoint a UK tax representative for IPT purposes...
12 March 2008
-
The Chancellor has backed down
The Chancellor has backed down to an extent on the changes to the taxation of non-domiciliaries...
12 March 2008
-
VAT exemption for fund management services
The VAT exemption for fund management will be amended with effect from 1 October 2008...
12 March 2008
-
Income Shifting
Many tax advisers had been waiting with bated breath to see what the Chancellor was going to say about income shifting...
12 March 2008
-
Capital Gains Tax
The proposals which shocked the business world in November have been largely confirmed in the Budget...
12 March 2008
-
Personal tax issues
As previously announced, the annual allowance will rise to ?7,200 - a meagre increase given the allowance had been frozen...
12 March 2008
-
Stamp Duties
The Budget announces a series of changes to Stamp Duty Land Tax and Stamp Duty...
12 March 2008
-
A Green Budget?
The Chancellor has announced a number of changes which the Government maintain reaffirms its commitment to meeting its target of reducing carbon emissions by 60% by 2050...
12 March 2008
-
Anti-avoidance legislation
HMRC have confirmed and extended anti-avoidance legislation, first proposed on 13 December 2007...
12 March 2008
-
Investment management
The majority of the developments represent a package of tax measures designed to enhance the competitiveness of the UK asset management sector...
12 March 2008
-
VAT
HMRC have announced the introduction of a transitional period for businesses to make recoveries of VAT...
12 March 2008
-
Correction of errors
The limits for correcting errors without disclosure, i.e. by adjusting the next return, are to be increased...
12 March 2008
-
Staff hire concession
HMRC have announced the withdrawal of the staff hire concessionary arrangements with effect from 1 April 2009...
12 March 2008
