Budget

The consultation considered last summer on the changes to the capital allowance regime for cars produced much welcome response from concerned parties.

This Budget also sees the introduction of a change to a CO2 basis for calculating the scale charge for VAT on fuel used for private motoring. Rebecca Benneyworth reports.

The first reaction was disappointment (going on outrage in some cases).

The government has announced it is to implement International Reporting Standards (IFRS) for its annual accounts, as part of the budget release.

In the middle of all the Budget folderol HMRC has produced its new revised consultation framework.

Anti-avoidance measures announced in the budget aim to raise just under £1bn but are proving increasingly obscure for most accountants.

Gordon Brown’s budget announcement of a series of 'green' measures aimed at protecting the environment both at home and abroad has been deemed a “failure” and a “faint-hearted affair” by environmen

There were few surprises again on the VAT front. The registration threshold rises to £64,000 from 1 April 2007 and the threshold for deregistration will rise to £62,000.

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The Finance Act 2007 will include a raft of provisions to put in place Lord Carter's proposals for shorter deadlines for paper self assessment tax returns, and a 12-month window for HMRC enquiries

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As a parting gesture, Gordon Brown announced a major overhaul of tax allowances for business investment in plant, machinery and buildings.

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