Budget 2007: Key tax measures at a glance

Posted by AccountingWEB in Tax, In practice, In business on Wed, 21/03/2007 - 00:59

"No return to boom and bust" is on the agenda according to the chancellor, but with 81 budget notes there have been some major changes announced to simplify income tax, tinker with corporation tax and overhaul the capital allowances system for long and short life assets.

Major new announcements, with links into tax features

Income tax
Major simplification measures include:

  • 10% starting rate band to be abolished from 2008
  • basic tax rate cu

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