10th Dec 2010
As part of its new approach to tax policy making, the government published 500+ pages of draft clauses and accompanying explanations on 9 December 2010 for measures that will be included in the Finance Bill 2011.2011-12 tax tables. This article details a comprehensive list of published measures, with links to those that are of most relevance to AccountingWEB.co.uk members. Further details are available from the HMRC and Treasury websites. Key topics
- Pensions tax – tax relief restricted by new annual and lifetime allowance levels.
- Personal tax – changes to furnished holiday lettings rules and employer-supported childcare
- Corporation tax – reductions for Annual Investment Allowance and writing down allowances; plus foreign branch taxation and interim CFC reforms.
- Indirect tax – Samples to be VAT free following EMI victory at ECJ
- Anti-avoidance – Crackdowns on trust arrangements,
- HMRC powers and administration
- 2011-12 tax tables