The key announcements for individual taxpayers, tax credits and child benefit claimants have been highlighted here.
A summary of every announcement which may be of interest to individuals can be found in the three Chapters of the Overview of Tax Legislation and Rates. They are listed below.
| Chapter 1 - New tax changes for Finance Bill (FB) 2011 |
|---|
Company Car Tax rate 2013-14 Correction. The published text at Para 1.4 reads - "Legislation will be introduced in Finance Bill 2011 to reduce the appropriate percentages"… This should read ….."to increase the appropriate percentages" |
Fuel Benefit Charge 2011-12 |
Approved Mileage Allowance Payments rates from 2011-12 |
Enterprise Investment Scheme and Venture Capital Trusts A supplementary document entitled 'Enterprise Investment Schemes (EIS) and Venture
Capital Trusts (VCT)-Reforms' has
been published on 25 March. This includes the text from Overview
of Tax Legislation and Rates document, the Tax Information
and Impact Note (TIIN) and frequently asked questions. |
Capital Gains Tax annual exempt amount |
| Entrepreneurs' relief |
| Chapter 2 - Previously announced measures for FB 2011 |
Income tax rates, rate limits and personal allowances for 2011-12 |
Employer-Supported Childcare: changes to the 'Open Generally' condition |
Expenses paid to MPs |
Tax relief for protection of vulnerable groups scheme -fees paid or reimbursed by employers |
Employer-Supported Childcare- changes to the 'Open Generally' condition |
Expenses paid to MPs |
Tax relief for protection of vulnerable groups scheme- fees paid or reimbursed by employers |
Furnished Holiday Lettings Chapter 2 paragraph 2.8 Furnished holiday lettings. The Tax Information and Impact Note (TIIN) is not in Annex A of OOTLAR as indicated, but on page 23 of the Overview of Draft Legislation for Finance Bill 2011 which was published on 9 December 2010. |
Employer Supported Child care - Changes to tax relief |
Restricting pensions tax relief |
Pensions annuitisation |
Disguised Remuneration |
European Banking Authority and EU Agencies based in UK |
Reduction in contracting out rebate |
Junior ISAs |
| Chapter 3 - New tax changes for FB 2012 or beyond |
Income Tax rates and allowances for 2012-13 |
CPI Indexation of National Insurance contributions rates, limits and thresholds 2012-13 |
Income Tax and NICs reform |
Enterprise Investment Scheme/Venture Capital Trusts |
Gifts of art |
SA Donate-withdrawal |
Review of non-domicile taxation |
Statutory residence test |
CPI Indexation of annual ISA subscription limits |
Qualifying time deposits |
Capital Gains Tax - annual exempt amounts |
| Single payments scheme and Capital Gains Tax (CGT) rollover relief |
