Budget Notes 2008 | March 2008
12 March 2008
Budget Notes contain technical information additional to the press notices issued by HM Treasury with the Budget. They are not the same as press notices, which are primarily used as brief explanations of new policy for the media, but rather contain additional, more detailed information on the changes to tax law announced in the Budget. As such they are designed to assist businesses that may be immediately affected by the changes, and to provide more technical information to those with a specialist interest such as tax consultants and advisers, City financial institutions and local HM Revenue and Customs offices. This information is also published on the Treasury and HM Revenue and Customs internet sites.
BN01 MODERNISING THE PERSONAL TAX SYSTEM
BN02 CORPORATION TAX MAIN RATES
BN03 CORPORATION TAX SMALL COMPANIES' RATES
BN04 SIMPLIFICATION OF ASSOCIATED COMPANIES RULES
BN05 AMENDMENTS TO THE RESEARCH & DEVELOPMENT AND VACCINE RESEARCH RELIEF SCHEMES
BN07 CAPITAL ALLOWANCES: PLANT AND MACHINERY ALLOWANCES: INTEGRAL FEATURES AND THERMAL INSULATION
BN08 CAPITAL ALLOWANCES: PLANT AND MACHINERY: RATE CHANGES & NEW SPECIAL RATE POOL
BN11 100 PER CENT FIRST-YEAR ALLOWANCES FOR EXPENDITURE ON CARS WITH LOW CARBON DIOXIDE EMISSIONS.
BN12 CAPITAL ALLOWANCES: PLANT AND MACHINERY: ANNUAL INVESTMENT ALLOWANCE
BN14 CAPITAL ALLOWANCES: INTRODUCTION OF FIRST-YEAR TAX CREDITS
BN15 CAPITAL ALLOWANCES: SMALL PLANT AND MACHINERY POOLS
BN17 COMMUNITY INVESTMENT TAX RELIEF AND BANKING
BN18 ENTERPRISE MANAGEMENT INCENTIVES
BN20 LEASED PLANT OR MACHINERY: ANTI-AVOIDANCE
BN21 FINANCIAL PRODUCTS AVOIDANCE: DISGUISED INTEREST AND TRANSFERRING RIGHTS TO LEASE RENTALS
BN22 CONTROLLED FOREIGN COMPANIES: ANTI-AVOIDANCE
BN23 CORPORATE INTANGIBLE ASSETS REGIME:
BN24 CAPITAL ALLOWANCES BUYING AND ACCELERATION: ANTI-AVOIDANCE
BN25 EMPLOYMENT-RELATED SECURITIES: DEDUCTIBLE AMOUNTS
BN26 NORTH SEA MANAGEMENT EXPENSES
BN27 UNCLAIMED ASSETS SCHEME: TAX CHANGES
BN28 INVESTMENT MANAGER EXEMPTION
BN29 TAXATION OF PERSONAL DIVIDENDS
BN31 OFFSHORE FUNDS: NEW TAX REGIME
BN32 TIMING OF INCOME TAX PAYMENTS BY UNAUTHORISED UNIT TRUSTS
BN33 FUNDS OF ALTERNATIVE INVESTMENT FUNDS
BN34 PROPERTY AUTHORISED INVESTMENT FUNDS
BN35 REPEAL OF OBSOLETE ANTI-AVOIDANCE PROVISIONS
BN36 LIFE INSURANCE COMPANIES: CONSULTATION OUTCOMES AND SIMPLIFICATION
BN37 LIFE INSURANCE COMPANIES: INTEREST APPORTIONMENT
BN38 INSURANCE PREMIUM TAX (IPT): CHANGES RELATING TO OVERSEAS INSURERS
BN39 STAMP DUTY: ALTERNATIVE FINANCE: SUKUK
BN40 ALTERNATIVE FINANCE ARRANGEMENTS
BN42 PENSIONS: REGULATION MAKING POWERS
BN43 PENSIONS: TECHNICAL IMPROVEMENTS
BN44 APPROVED OCCUPATIONAL PENSION SCHEMES
BN45 PENSION SAVINGS AND INHERITANCE TAX
BN46 INHERITANCE TAX: TRANSITIONAL SERIAL INTERESTS
BN47 INHERITANCE TAX (IHT) NIL-RATE BAND
BN48 CAPITAL GAINS TAX: RELIEF ON DISPOSAL OF A BUSINESS (ENTREPRENEURS' RELIEF)
BN49 CHILD TRUST FUND: VOUCHER REQUIREMENT
BN50 INDIVIDUAL SAVING ACCOUNTS AND NORTHERN ROCK BANK
BN51 INDIVIDUAL SAVING ACCOUNTS AND OTHER SAVING ACCOUNTS: REDUCING THE ADMINISTRATIVE BURDEN
BN52 GIFT AID: TRANSITIONAL RELIEF
BN53 INCOME OF BENEFICIARIES UNDER SETTLOR-INTERESTED TRUSTS
BN54 STAMP DUTY: CHANGES TO LOAN CAPITAL EXEMPTION
BN55 REDUCTION OF STAMP DUTY ADMINISTRATIVE BURDEN
BN56 STAMP DUTY LAND TAX (SDLT): RELIEF FOR NEW ZERO-CARBON FLATS
BN58 STAMP DUTY LAND TAX (SDLT): ANTI-AVOIDANCE LEGISLATION AFFECTING PARTNERSHIPS
BN59 STAMP DUTY LAND TAX (SDLT): GROUP RELIEF: ANTI-AVOIDANCE
BN60 STAMP DUTY LAND TAX (SDLT): ALTERNATIVE FINANCE: ANTI-AVOIDANCE
BN61 GREATER LONDON AUTHORITY SEVERANCE PAY
BN62 ARMED FORCES COUNCIL TAX RELIEF
BN63 RESTRICTIONS ON TRADE LOSS RELIEF FOR INDIVIDUALS
BN64 DOUBLE TAXATION RELIEF: INCOME TAX
BN65 AVOIDANCE OF INCOME TAX USING MANUFACTURED PAYMENTS
BN66 DOUBLE TAXATION TREATY ABUSE
BN67 TAX AVOIDANCE DISCLOSURE REGIME: SCHEME REFERENCE NUMBER SYSTEM
BN70 EMPLOYER PROVIDED VANS: FUEL BENEFIT RULES
BN71 HYDROCARBON OILS: DUTY RATES CHANGES AND RATES SIMPLIFICATION
BN72 NEW AVIATION DUTY REPLACING AIR PASSENGER DUTY (APD)
BN73 VAT: INCREASED TURNOVER THRESHOLDS FOR REGISTRATION AND DEREGISTRATION
BN74 VAT: AMENDMENT TO THE EXEMPTION FOR FUND MANAGEMENT
BN75 INDIRECT TAX RETURNS: CORRECTION OF ERRORS
BN76 VAT: CHANGES IN FUEL SCALE CHARGES
BN77 VAT: REDUCED RATE FOR SMOKING CESSATION PRODUCTS
BN78 VAT: TRANSITIONAL PERIOD FOR CLAIMS
BN79 VAT: OPTION TO TAX LAND & BUILDINGS
BN80 LANDFILL TAX: EXEMPTION FOR WASTE FROM CLEANING UP CONTAMINATED LAND
BN81 LANDFILL COMMUNITIES FUND
BN82 LANDFILL TAX: STANDARD RATE
BN84 CLIMATE CHANGE LEVY: RATES
BN85 CLIMATE CHANGE LEVY (CCL): ELECTRICITY FROM COAL MINE METHANE
BN86 CLIMATE CHANGE LEVY (CCL): CLIMATE CHANGE LEVY ACCOUNTING DOCUMENTS (CCLADs): SIMPLIFICATION
BN87 ENERGY PRODUCTS DIRECTIVE: EXPIRY OF DEROGATIONS
BN88 AMUSEMENT MACHINE LICENCE DUTY (AMLD): GAMING MACHINES
BN89 GAMING DUTY: REVALORISATION OF DUTY BANDS
BN90 TOBACCO PRODUCTS DUTY: RATES
BN92 CALCULATION OF ALCOHOL DUTY
BN93 EXCISE REVIEWS AND APPEALS
BN94 WAIVING INTEREST AND SURCHARGES FOR THOSE AFFECTED BY NATIONAL DISASTERS
BN95 POWER TO GIVE STATUTORY EFFECT TO EXISTING CONCESSIONS
BN97 HMRC REVIEW OF POWERS, DETERRENTS AND SAFEGUARDS: COMPLIANCE CHECKS
BN98 HMRC REVIEW OF POWERS, DETERRENTS AND SAFEGUARDS: PAYMENTS, REPAYMENTS AND DEBT
BN99 CHANGES TO CUSTOMS POWERS
BN100 TRIBUNAL REFORM: SIMPLIFYING HMRC'S APPROACH TO APPEALS
BN101 TAX LAW REWRITE: REMITTANCE BASIS AND FOREIGN DIVIDEND INCOME
BN102 RESIDENCE AND DOMICILE: THE RESIDENCE TEST AND DAY COUNTING RULES
BN103 RESIDENCE AND DOMICILE: PERSONAL ALLOWANCES AND THE REMITTANCE BASIS
BN104 RESIDENCE AND DOMICILE: CLOSING LOOPHOLES IN THE REMITTANCE BASIS
BN105 RESIDENCE AND DOMICILE: REMITTANCE BASIS AND ART FOR PUBLIC DISPLAY
BN106 RESIDENCE AND DOMICILE: CHANGES FOR EMPLOYMENT-RELATED SECURITIES
BN107 RESIDENCE AND DOMICILE: ANNUAL £30,000 CHARGE FOR SOME USERS OF THE REMITTANCE BASIS