Budget 2006 - Wednesday 22nd March
Contents
Additional publications relating to the Report will also be available from the HM Treasury Web Site.
HM Treasury have also provided a separate microsite for a Budget Summary Leaflet which highlights the key points of how the Budget will affect you.
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Budget Notes
Budget Notes
Some corrections have been made to three Budget Notes;
- BN03; UK Real Estate Investment Trusts
- BN10; Sale of Lessors
- BN14; Taxation of Leased Plant and Machinery
The correct versions were published by 11.00am 23rd March 2006. If you
have any questions about the changes, please contact the named specialists
in the respective notes.
A correction has been made to
- BN62; Gaming Machines & Amusement Machine Licence Duty
The correct version was published on 3pm on 24 March 2006. If you have any questions about the change, please contact the named specialists in the respective notes.
A correction has been made to
- BN51 - Climate Change Levy: Change to Rates
The correct version was published on 5pm on 10 April 2006. If you have any questions about the change, please contact the named specialists in the respective notes.
- Complete set of Budget Notes (PDF 323K)
- BN01 - Corporation Tax Rates also available in PDF format (25K)
- BN02 - Increase in Rate of First-Year Capital Allowances for Small Businesses also available in PDF format (25K)
- BN03 - UK Real Estate Investment Trusts also available in PDF format (29K)
- BN04 - Reform of Film Tax Relief also available in PDF format (26K)
- BN05 - Amendments to the R&D Tax Relief Schemes also available in PDF format (28K)
- BN06 - Alternative Finance Arrangementsalso available in PDF format (27K)
- BN07 - Changes to the Venture Capital Schemesalso available in PDF format (30K)
- BN08 - Extension to Group Relief) also available in PDF format (26K)
- BN09 - Securitisation and International Accounting Standards also available in PDF format (24K)
- BN10 - Sale of Lessors also available in PDF format (30K)
- BN11 - Corporate Capital Losses also available in PDF format (26K)
- BN12 - London Olympic games and Paralympics Games also available in PDF format (26K)
- BN13 - Controlled Foreign Companies and Residence also available in PDF format (24K)
- BN14 - Taxation of Leased Plant and Machinery also available in PDF format (32K)
- BN15 - North Sea Oil Pricing also available in PDF format (27K)
- BN16 - Qualifying Life Insurance Policies also available in PDF format (24K)
- BN17 - Life Insurance Companies also available in PDF format (30K)
- BN18 - Protecting Revenues: Financial Products also available in PDF format (29K)
- BN19 - Simplification of the Taxation of Pensions also available in PDF format (27K)
- BN20 - Stamp Duty Land Tax: Raising the Threshold for Residential Transactions also available in PDF format (24K)
- BN21 - Stamp Duty Land Tax: Extension of Alternative Finance Reliefs also available in PDF format (26K)
- BN22 - Stamp Duty Land Tax: Simplification and Clarification of the Law also available in PDF format (27K)
- BN23 - Stamp Duty Land Tax: Withdrawal of Unit Trust ‘Seeding Relief’ also available in PDF format (27K)
- BN24 - Stamp Duty Reconstruction Reliefs also available in PDF format (26K)
- BN25 - Aligning the Inheritance Tax Treatment for Trusts also available in PDF format (30K)
- BN26 - Inheritance Tax & Pensions Simplification also available in PDF format (30K)
- BN27 - Capital Gains Tax: ‘Bed & Breakfasting Rules’ also available in PDF format (27K)
- BN28 - Charities: Anti-Avoidance Provisions also available in PDF format (31K)
- BN29 - Charities: Income & Corporation Tax Relief for Trading Activities Undertaken by a Charity also available in PDF format (27K)
- BN30 - Exemptions for Computers & Mobile Phones also available in PDF format (25K)
- BN31 - VDU users: Eye Tests and Glasses also available in PDF format (25K)
- BN32 - Dormant Accounts of Holocaust Victims also available in PDF format (25K)
- BN33 - Protecting Revenues: Employment-Related Securities also available in PDF format (25K)
- BN34 - Relief from Special Trust Rates for Service Charges Held By Social Landlords also available in PDF format (24K)
- BN35 - Modernising the Tax System for Trusts also available in PDF format (27K) see also Q&As on Trust Modernisation (PDF 12K)
- BN36 - Company Car and Fuel Benefit Tax also available in PDF format (27K)
- BN37 - Air Passenger Duty also available in PDF format (23K)
- BN38 - Hydrocarbon Oils: Duty Rates also available in PDF format (27K)
- BN39 - VAT: Changes in Fuel Scale Charges also available in PDF format (25K)
- BN40 - VAT: Reduced Rate for Contraceptives also available in PDF format (24K)
- BN41 - VAT: Increased Turnover Thresholds for Registration & Deregistration also available in PDF format (25K)
- BN42 - VAT: Clarification of Powers Relating to Inspection of Goods also available in PDF format (23K)
- BN43 - VAT: Power for HMRC to Direct Additional Record-Keeping Requirements also available in PDF format (25K)
- BN44 - Protecting VAT Revenues: Taxation of Phone Cards also available in PDF format (25K)
- BN46 - Introduction of a Change of The Person Responsible for Accounting for and Paying the VAT on the Sale of Certain Goods also available in PDF format (25K)
- BN47 - VAT: Supplies of Goods under Finance Agreements also available in PDF format (24K)
- BN48 - VAT: Auctioneers’ Fees also available in PDF format (25K)
- BN49 - VAT: Partial Exemption also available in PDF format (25K)
- BN50 - Landlord’s Energy Saving Allowance also available in PDF format (23K)
- BN51 - Climate Change Levy: Change to Rates also available in PDF format (24K)
- BN52 - Climate Change Levy: Abolition of 50% Discount for Energy Used in Horticulture also available in PDF format (24K)
- BN53 - Climate Change Levy: Extension of Exemption for Gas Used in Northern Ireland also available in PDF format (23K)
- BN54 - Landfill Tax also available in PDF format (24K)
- BN55 - Alcohol Duty Rates also available in PDF format (27K)
- BN56 - Tobacco Products: Changes in Duty Rates also available in PDF format (25K)
- BN57 - Alcohol Duties: Reducing Administrative Burdens also available in PDF format (29K)
- BN58 - Excise Duty: Deferment Guarantees also available in PDF format (24K)
- BN59 - Tobacco Duty: Deregulatory Changes also available in PDF format (26K)
- BN60 - Tobacco Duty: Control of Supply Chains also available in PDF format (25K)
- BN61 - Gaming Duty: Revalorisation of Duty Bands also available in PDF format (23K)
- BN62 - Gaming Machines & Amusement Machine Licence Duty also available in PDF format (35K)
- BN63 - Modification & Extension of The Disclosure Regime also available in PDF format (28K)
- BN64 - International Tax Enforcement Arrangements also available in PDF format (25K)
News Releases
- NAT 21/06 - Improving take-up of HMRC online services - Expansion and investment in online tax services
- NAT 22/06 - Improving how we do business with business
Press Notices
- Complete set of Press Notices (PDF 410K)
- PN01 - A strong and strengthening economy: Investing in Britain’s future also available in PDF format (121K)
- PN02 - Income tax allowances, National Insurance Contributions, Child and Working Tax Credit rates 2006-07 and other rates also available in PDF format (78K)
- PN03 - Protecting tax revenues also available in PDF format (25K)
- PN04 - Strengthening London’s position as the world’s leading international financial centre also available in PDF format (30K)
- PN05 - Memorandum of Understanding for Financial Stability also available in PDF format (13K)
Supplementary Documents
- Budget Illustrative Tables
- Consultation Documents
- Draft Finance Bill Clauses
- Information Notes
- Operational Impact Assessments (OIA)
- Reducing burdens on business
- Regulatory Impact Assessments (RIAs)
Budget Illustrative Tables
Consultation Documents
Reports / Summaries of Responses
- Summary of responses to the consultation regarding “Avoidance through the creation and use of capital losses by companies” draft legislation and guidance published at PBR 2005
- Summary of responses to the consultation document “VAT: Disapplication of the option to tax” Issued March 2004
- Summary of Responses to the Consultation for a Reform of the Duty Deferment Guarantee System
- Company Car tax Evaluation Report - Report of the second stage of the evaluation of the company car tax and fuel benefit reform (PDF 151K)
- New responses to new challenges: Reinforcing the Tackling Tobacco Smuggling Strategy
- Review of HMRC Online
Draft Finance Bill Clauses
- Alternative finance arrangements - draft clauses (PDF 83K)
- Avoidance through the creation and use of capital losses by companies - Draft legislation and revised guidance (PDF 265K)
- Employment related securities: Anti Avoidance - Draft clauses and explanatory notes
- Pension Simplification: Recycling tax-free lump sums - draft legislation, explanatory note and guidance (PDF 196K)
- UK-REITs - commentary on draft legislation and regulations (PDF 544K)
Information Notes
- VAT Information Sheet 05/06- VAT: Supplies of goods under finance agreements
- VAT Information Sheet 06/06 - VAT: Changes to the annual accounting scheme
- Hydrocarbon Oils - Changes to Excepted Vehicle Schedule (PDF 23K)
Operational Impact Assessments (OIA)
- Operational and Process Change to Stamp Duty Land Tax (PDF 118K)
- P11 Calculator for the Employer CD-ROM (PDF 148K)
- The Development of a new CD-ROM for VAT (PDF 87K)
- New Statement of Account (PDF 111K)
- Employment Status Indicator (ESI) (PDF 99K)
Reducing burdens on business
- Progress towards a new relationship: How HMRC is working to make life easier for business (PDF 115K)
Regulatory Impact Assessments (RIAs)
Full RIAs
- Changes to the Corporation Tax Structure (PDF 114K)
- Real Estate Investment Trusts (UK-REITs) (PDF 149K)
- Reform of Film Tax Incentives - promoting the sustainable production of culturally British Films (PDF 114K)
- Alternative Finance Products (PDF 121K)
- Changes to the North Sea Tax Regime (PDF 106K)
- Corporation Tax - Extension of Group Relief (PDF 127K)
- North Sea Taxation - Reform of the Nominations Scheme and rules for Dealing with Blended Oils (PDF 94K)
- North Sea Oil Tax Pricing Rules (PDF 107K)
- Reduced Rate of VAT (5%) for Contraceptive Products
- VAT: Clarification of HMRC Powers to Inspect Goods
- VAT: Power for HMRC to Direct Individual Businesses
- VAT: Cars (Amendment) and VAT: Special Provisions (Amendment) (2) Order 2006
- Simplifying the Taxation of Pensions – Update (PDF 230K)
- Relief from the 40% Trust Rate - Relief from the 40% Trust Rate of Taxation for Service Charge and Sinking Funds in the Social Housing Sector (PDF 88K)
- Trust Modernisation (PDF 122K)
- Deregulation and Simplification Measures on SDLT (PDF 102K)
- Alignment of Machine Definitions and Remove Non-Gaming Machines from Amld - Alignment of Machine Definitions to Correspond with VAT and Social Legislation and the Removal of Non-Gaming Machines from the Amusement Machine License Duty Regime
- Tobacco Duty: Control of Supply Chains
- Leased Plant and Machinery (Leasing Reform) (PDF 137K)
