Finance Bill Tracking Service 2009 | Budget 2009

Budget 2009 - Budget Notes

22 April 2009

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 finer points and application of taxation changes 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. Contact details for each note were correct at the time of publication. Please refer to HMRC's individual web versions as these are updated as required.

Contents

BN01 ADDITIONAL RATE OF INCOME TAX AND INCOME-RELATED REDUCTION OF THE PERSONAL ALLOWANCE FROM 2010-11

BN02 CORPORATION TAX MAIN RATES

BN03 CORPORATION TAX SMALL COMPANIES' RATE

BN04 CAPITAL ALLOWANCES: PLANT AND MACHINERY: TEMPORARY FIRST-YEAR ALLOWANCES

BN05 TAXATION OF FOREIGN PROFITS

BN06 CORPORATION TAX: LOAN RELATIONSHIPS: CONNECTED COMPANIES

BN07 CORPORATION TAX: AGREEMENTS TO FORGO TAX RELIEFS

BN08 IMPROVEMENTS TO THE VENTURE CAPITAL SCHEMES

BN09 NORTH SEA FISCAL REGIME

BN10 NORTH SEA FISCAL REGIME: INCENTIVISING PRODUCTION

BN11 ENHANCED CAPITAL ALLOWANCES FOR ENERGY-SAVING AND WATER EFFICIENT (ENVIRONMENTALLY BENEFICIAL) TECHNOLOGIES

BN12 SALE OF LESSOR COMPANIES: ANTI-AVOIDANCE AND FAIRNESS

BN13 EXTENSION OF TRADING LOSS CARRY BACK FOR BUSINESS

BN14 LIFE INSURANCE COMPANIES: CONSULTATION OUTCOMES AND SIMPLIFICATION

BN15 FINANCIAL SERVICES COMPENSATION SCHEME: PAYMENTS REPRESENTING INTEREST

BN16 UK DIVIDEND EXEMPTION FOR LLOYD's CORPORATES

BN17 GROUP RELIEF: PREFERENCE SHARES

BN18 STOCK LENDING AND REPURCHASE ARRANGEMENTS: STAMP DUTY, STAMP DUTY RESERVE TAX AND TAX ON CHARGEABLE GAINS

BN19 FOREIGN DENOMINATED LOSSES

BN20 TRANSFERS OF BUSINESS BETWEEN MUTUAL SOCIETIES

BN21 TAXATION OF PERSONAL DIVIDENDS

BN22 TAXATION OF PERSONAL DIVIDENDS DISTRIBUTIONS FROM OFFSHORE FUNDS

BN23 TAX ELECTED FUNDS

BN24 CHARGEABLE GAINS AND OFFSHORE FUNDS

BN25 OFFSHORE FUNDS

BN26 CERTAINTY ON TRADING AND INVESTMENT FOR AUTHORISED INVESTMENT FUNDS AND INVESTORS IN EQUIVALENT OFFSHORE FUNDS

BN27 NEW TAX RULES FOR INVESTMENT TRUST COMPANIES INVESTING IN INTEREST BEARING ASSETS

BN28 GROUPS: REALLOCATION OF CHARGEABLE GAINS

BN29 DOUBLE TAXATION RELIEF ON DIVIDENDS

BN30 SAVE AS YOU EARN PROCESS SIMPLIFICATION

BN31 CORPORATE INTANGIBLE FIXED ASSET REGIME

BN32 FINANCIAL ARRANGEMENTS AVOIDANCE

BN33 ANTI-AVOIDANCE: PLANT AND MACHINERY LEASING

BN34 NORTH SEA: ACCELERATED DECOMMISSIONING RELIEF

BN35 FOREIGN EXCHANGE LOSSES: TARGETED ANTI-AVOIDANCE RULE

BN36 TRANSFERS OF INCOME STREAMS

BN37 DISGUISED INTEREST

BN38 ANTI-AVOIDANCE: INTEREST RELIEF

BN39 MANUFACTURED INTEREST

BN40 HEDGING PROCEEDS FROM FUTURE SHARE ISSUES

BN41 REAL ESTATE INVESTMENT TRUSTS: ARTIFICIAL RESTRUCTURING

BN42 REAL ESTATE INVESTMENT TRUSTS: AMENDMENTS

BN43 STAMP DUTY LAND TAX, CAPITAL ALLOWANCES AND TAX ON CAPITAL GAINS: ALTERNATIVE FINANCE INVESTMENT BONDS

BN44 STAMP DUTY LAND TAX: TREATMENT OF SHARED OWNERSHIP

BN45 STAMP DUTY LAND TAX: TEMPORARY INCREASE IN THRESHOLDS

BN46 STAMP DUTY LAND TAX: LEASEHOLD ENFRANCHISEMENT

BN47 PENSIONS: LIMITING TAX RELIEF FOR HIGH INCOME INDIVIDUALS (ANTI-FORESTALLING)

BN48 TAXATION OF PAYMENTS FROM THE FINANCIAL ASSISTANCE SCHEME

BN49 AVOIDING UNINTENDED TAX CONSEQUENCES IN RELATION TO PENSION SAVINGS

BN50 INHERITANCE TAX: EXTENSION OF AGRICULTURAL PROPERTY AND WOODLANDS RELIEFS TO LAND IN THE EUROPEAN ECONOMIC AREA

BN51 INDIVIDUAL SAVINGS ACCOUNTS (ISAs): INCREASING ISA LIMITS FOR PEOPLE AGED 50 AND OVER AND INCREASING ISA LIMITS FOR ALL

BN52 CHILD TRUST FUND: PAYMENTS FOR DISABLED CHILDREN

BN53 CHARITIES: SUBSTANTIAL DONORS REGULATIONS

BN54 UK PERSONAL ALLOWANCES AND RELIEFS FOR NON-RESIDENT INDIVIDUALS

BN55 THE REMITTANCE BASIS: MINOR AMENDMENTS

BN56 LIVING ACCOMMODATION PROVIDED BY REASON OF EMPLOYMENT: PAYMENTS OF LEASE PREMIUMS

BN57 AVOIDANCE USING LIFE INSURANCE POLICIES

BN58 AVOIDANCE USING EMPLOYMENT INCOME LEGISLATION

BN59 DOUBLE TAXATION RELIEF AVOIDANCE: BANKS USING MANUFACTURED OVERSEAS DIVIDENDS

BN60 DOUBLE TAXATION RELIEF AVOIDANCE: CREDIT ABUSE

BN61 DOUBLE TAXATION RELIEF AVOIDANCE: REPAYMENT OF FOREIGN TAX

BN62 CORPORATE TRANSPARENCY: PERSONAL TAX ACCOUNTABILITY OF SENIOR ACCOUNTING OFFICERS OF LARGE COMPANIES

BN63 PUBLISHING THE NAMES OF DELIBERATE TAX DEFAULTERS

BN64 CHANGES TO COMPANY CAR TAX FROM 2011-12

BN65 MODERNISING TAX RELIEF FOR BUSINESS EXPENDITURE ON CARS

BN66 HYDROCARBON OILS: DUTY RATES

BN67 VAT: SIMPLIFYING THE PROCEDURE FOR OPTING TO TAX LAND AND BUILDINGS

BN68 VAT: REDUCED RATE FOR CHILDREN'S CAR SEAT BASES

BN69 VAT: CHANGES IN FUEL SCALE CHARGES

BN70 VAT: INCREASED TURNOVER THRESHOLDS FOR REGISTRATION AND DEREGISTRATION

BN71 VAT: CHANGE OF STANDARD RATE

BN72 VAT: CHANGE OF STANDARD RATE: ANTI-FORESTALLING LEGISLATION

BN73 VAT AND EXCISE: VAT EXEMPTION FOR GAMING PARTICIPATION FEES AND OTHER MISCELLANEOUS AMENDMENTS

BN74 CROSS-BORDER VAT CHANGES 2010: PLACE OF SUPPLY OF SERVICES RULES

BN75 CROSS-BORDER VAT CHANGES 2010: TIME OF SUPPLY RULES

BN76 CROSS-BORDER VAT CHANGES 2010: EC SALES LISTS

BN77 CROSS-BORDER VAT CHANGES 2010: VAT REFUND PROCEDURE

BN78 LANDFILL TAX: STANDARD RATE

BN79 LANDFILL TAX: TAXABLE DISPOSALS OF WASTE AT A LANDFILL SITE

BN80 CLIMATE CHANGE LEVY: RESTRICTED ENTITLEMENT TO LEVY RELIEF FOR PLASTICS SECTOR

BN81 CLIMATE CHANGE LEVY: RECOVERY OF RELIEF

BN82 CLIMATE CHANGE LEVY: LOW VALUE SOLID FUEL

BN83 AMUSEMENT MACHINE LICENCE DUTY: CHANGES TO RATES AND MACHINE CATEGORIES

BN84 WITHDRAWAL OF THE WAREHOUSING FOR EXPORT DRAWBACK SCHEME FOR ALCOHOLIC LIQUORS

BN85 TOBACCO PRODUCTS DUTY: RATES

BN86 ALCOHOL DUTY: RATES

BN87 RECLAIMING INCOME TAX, CAPITAL GAINS TAX AND CORPORATION TAX OVERPAYMENTS

BN88 REVIEW OF HMRC POWERS, DETERRENTS AND SAFEGUARDS: PAYMENTS, REPAYMENTS AND DEBT

BN89 REVIEW OF HMRC POWERS, DETERRENTS AND SAFEGUARDS: COMPLIANCE CHECKS

BN90 REVIEW OF HMRC POWERS, DETERRENTS AND SAFEGUARDS: PENALTIES FOR LATE FILING OF RETURNS AND LATE PAYMENT OF TAX

BN91 INTEREST HARMONISATION

BN92 HMRC CHARTER

BN93 CHANGES TO CUSTOMS POWERS

HM REVENUE AND CUSTOMS PRESS OFFICE

Press enquiries: 020 7147 0798 / 2328 (Business Tax Desk)

020 7147 2318 / 0051/ 0394 / 2331 (Personal Tax Desk) 020 7147 2314 / 0052 (Law Enforcement Desk)

07860 359544 (Out of hours)

GOVERNMENT DEPARTMENT INTERNET SITES

Further information and all published documents relating to the Budget may be found on the Internet at the following addresses:

HM Treasury: www.hm-treasury.gov.uk

HM Revenue and Customs: www.hmrc.gov.uk