Pre-Budget Report 2005

Monday 5th December 2005.

All press notices and HM Revenue & Customs supplementary documents relating to the Pre-Budget Report can be found here.

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.

Portable Document Format (PDF) files

Documents marked PDF are in Portable Document Format, to view a PDF document you must have a PDF reader installed on your computer. Adobe reader is provided for download. These documents are also available as compressed files to make downloading them faster. Depending on your browser setup, clicking on the link may open the document in the browser window. With large files, a delay can give the impression that the document is not downloading. If you prefer to save the document directly to your hard drive:

• PC users - right-click on the link, and then select the save option.
• Apple Mac users - point to the link and hold down the mouse button, and then select the save option.

Compressed (zipped) files

The documents will also be available in a compressed format called 'zip' to make downloading them faster. To uncompress these files, you will need special zip software.

• All the News Releases in one compressed file (ZIP 553K)
• All the related supplementary documents in one compressed file (ZIP 6.16MB)

These documents are available in HTML and PDF formats. To view a PDF document you must have a PDF reader installed on your computer. Adobe reader is provided for download.

Press Notices

• PN1 - Britain meeting the global challenge: Enterprise, fairness and responsibility (HMTL) - also available in PDF format (193K)
• PN2 - Income tax allowances, National Insurance Contributions, Child and Working Tax Credit rates 2006-07 and fuel duties (HTML) - also available in PDF format (91K)
• PN3 - Protecting tax revenues (HTML) - also available in PDF format (91K)
• PN4 - Investment in housing and property (HTML) - also available in PDF format (89K)
• PN5 - The Leitch Review – Skills in the UK: The long-term challenge (HTML) - also available in PDF format (135K)

Supplementary Documents

Consultation Documents

• VAT: "Beneficial ownership" of land and property
• VAT: Schedule 10 – Buildings and Land : Rewrite of existing tax law
• The Modernisation of Gambling Taxes: Consultation on the compliance costs to operators of the Reformed Bingo Duty
• Planning-gain Supplement

Reports / Summaries of Responses

• "VAT: Future of the Option to Tax” - Summary of Responses to consultation that took place at PBR 2004 on the “Future of the Option to Tax”
• Summary of Responses: Hydrocarbon Oil Duty: Consultation On Changes To Excepted Vehicle Schedule
• Post Implementation Reviews of compliance costs in published RIAs
  • The Risk Solutions report (PDF 576K)
  • A PIR report for VAT: Tackling Group Abuses (PDF 265K)
  • A PIR report for VAT: Face Value Vouchers (PDF 109K) - and original Regulatory Impact Assessment (RIA) for the modernisation of Face Value Vouchers (FVVs)
• Findings of the Review of Links with Medium-Sized Businesses (PDF 307K)
• Measuring Indirect Tax Losses - 2005 - Latest annual update of HMRC's estimates of indirect tax losses arising from fraud, avoidance and other forms of non-compliance (PDF 415K)
• Summary of responses to the Corporation Tax Reform Technical Note issued in December 2004 (PDF 97K)
• Capital allowances for renovation of business premises in disadvantaged areas - Consultation on the proposed capital allowances scheme for the renovation of business premises in disadvantaged areas: summary of responses

Full Regulatory Impact Assessments (RIAs)

• Reduced rate of VAT on the installation of wood fuelled boilers (PDF 80K)
• Clarification of definition of gaming machine for VAT (PDF 65K)
• Hydrocarbon Oils Duty: Relief for rebated heavy oils used to generate electricity - This analyses the effects of removal of duty in oils used to generate electricity (PDF 92K)
• Form 42 Reporting of Employment - Related Securities

Partial RIAs

• Enhanced Capital Allowance for Biofuels Production Plant (PDF 305K)
• Rewrite of the option to tax land and buildings legislation - this link takes you to the consultation document which includes the RIA at annex B page 48
• Charities – Payments to charities by jointly owned trading subsidiaries (PDF 60K)
• Changes to Corporation Tax Structure (PDF 93K)
• Changes to the North Sea Tax Regime (PDF 125K)
• Leased Plant and Machinery (Leasing Reform) (PDF 138K)
• Planning-gain supplement

Draft Finance Bill Clauses

• Changes to North Sea Fiscal Regime - draft legislation accompanied by an Explanatory Note, together with a partial Regulatory Impact Assessment (PDF 416K)
• Sale of Lessors - Addendum and Draft legislation plus explanatory notes (PDF 732K)
• Intangible Assets Regime Anti avoidance measures - Draft legislation and explanatory notes (PDF 130K)
• Avoidance through the creation and use of capital losses by companies - Draft legislation, HMRC Statement and Guidance on three targeted anti-avoidance rules affecting capital gains and losses of companies (PDF 391K)
• Chargeable gains: Policies of insurance and non-deferred annuities - Draft clauses and Explanatory Notes (ENs) (PDF 135K)
• Transfer of assets abroad - Draft clauses, and explanatory notes (PDF 209K)
• Leased Plant and Machinery - Technical Note plus draft legislation on a measure to reform the taxation of leased plant and machinery (PDF 275K)

Business Briefs

• Business Brief 23/05 -Business Brief on VAT and Excise issues
  This Business Brief contains 5 articles:
  1. Pre-Budget Report 2005 – VAT & Property Developments
  2. VAT Exemption for Insurance-related Services
  3. Reduced rate of VAT on the installation of wood-fuelled boilers
  4. Climate change levy: Extended eligibility for climate change agreements with energy intensive sectors
  5. Gaming machines
• Business Brief 24/05 - Business Brief on Excise duties: reducing costs and administrative burdens for business
  This Business Brief contains 1 article:
  1. Excise duties: reducing costs and administrative burdens for business
  

Statements and Notices

• North Sea Taxation: Pricing Rules - Announcement of proposed changes following discussion with industry (PDF 67K)
• Financial Avoidance Using Stock Lending Arrangements (PDF 82K)
• Inheritance tax (IHT): second-hand excluded property (PDF 45K)
• Pre-Owned Assets (POA) and reverter-to-settlor trusts (PDF 48K)
• Film Tax Relief (PDF 69K)

Technical Notes

• The costs and benefits of direct payment of Statutory Maternity Pay (PDF 149K)
• Pensions Tax Simplification – Pre-Budget Report Technical Note (PDF 117K)
• International Accounting Standards (PDF 254K)