Pre-Budget 2009 - Supplementary Documents

These documents were published immediately after the Chancellors speech on 9 December 2009.

• Press Notices
• Consultation documents
• Reports, Summaries of Responses
• Others
• Impact Assessments (IAs)

Consultation documents

• Implementing a Landline Duty: consultation on draft legislation and impacts (Opens new window)
  This consultation concerns the implementation of the new Landline Duty to help fund the roll-out of Next Generation Access to 90 per cent of Britain by 2017.
• Disclosure of Tax Avoidance Schemes (DOTAS)
  This consultation seeks views on a package of 5 measures to strengthen and improve the Disclosure of Tax Avoidance Schemes Regime (DOTAS). An associated Consultation Stage Impact Assessment - Strengthening and Revising the Disclosure of Tax Avoidance Schemes (DOTAS) regime has also been published.
• Extra statutory concessions - third technical consultation on draft legislation
  The purpose of this consultation is to expose draft legislation intended to maintain the purpose and effects of 7 extra-statutory concessions (ESCs) which need to be legislated.
• Implementing the restriction of pensions tax relief (Opens in new window)
• Interest - Working Towards a Harmonised Regime Draft Legislation and Commentary For Corporation Tax and Petroleum Revenue Tax
  This consultation is on the inclusion of corporation tax and petroleum revenue tax within the harmonised interest regime, completing the work begun in Finance Act 2009.
• Meeting the obligations to file returns and pay tax on time - Draft legislation and commentary
  This consultation document asks for comments on the new draft legislation that would introduce Indirect Taxes and Excise Duties into the late filing and late payment penalty regime.
• Modernising Powers, Deterrents and Safeguards: Excise: Modernisation and Compliance Checks: the next stage
  This consultation and impact assessment respond to earlier consultation and proposes updating the compliance checking framework for excise duties and updating on future plans to modernise excise administrative law. An associated Consultation Stage Impact Assessment - Excise: Modernisation and Compliance Checks has also been published.
• Modernising Powers, Deterrents and Safeguards: Working with Tax Agents - The Next Stage
  Further consultation on how HMRC should work with tax agents to ensure that fewer inaccurate returns and claims are submitted. An associated Consultation Stage Impact Assessment - Working with Tax Agents: The Next Stage has also been published.
• Modernising Powers, Deterrents and Safeguards: Tackling Offshore Tax Evasion
  The Chancellor has announced a package of deterrents and new tools to help HMRC tackle offshore tax evasion. HMRC is consulting on the implementation of these measures. Comments are also invited on whether the Government should consider reforms to the information HMRC receives on non-resident trusts. An associated Consultation Stage Impact Assessment - Tackling Offshore Tax Evasion has also been published.

Reports, Summaries of Responses

• A Code of practice on taxation for banks consultation response document
  This document summarises the responses received to the consultation document published on 29 June 2009. A copy of the Code of practice on taxation for banks is at Annex A.
• Disclosure of Tax Avoidance Schemes (DOTAS): Stamp Duty Land Tax
  This document summarises the responses received to the consultation on options for extending the descriptions of the disclosure regime to cover high value residential property and the arrangements for identifying users of all Stamp Duty Land Tax schemes. The consultation ran from 22 April 2009 until 15th July 2009.
• Modernising Powers, Deterrents and Safeguards: Working with Tax Agents
  This document provides a summary of responses to the high level consultation document published in April 2009. Further consultation on the next stage was published on 9 December 2009.
• Modernising Powers, Deterrents and Safeguards: Bulk and specialist information powers
  This document provides a summary of responses to the consultation document published on 9 July 2009 and summarises the way that HMRC proposes to take that consultation forward.
• Simplifying Transactions in Securities legislation
  This document sets out a summary of the responses received to the consultation document on the simplification of transactions in securities legislation issued on 31 July 2009.
• Simplifying Unallowable Purpose Tests
  This document sets out a summary of the responses received to the discussion document on the simplification of unallowable purpose tests issued on 31 July 2009.

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Others

• A Code of practice on taxation for banks supplementary guidance note
  This document summarises the Government's aim in introducing the Code of Practice on taxation for banks and provides information regarding how it is intended to work in practice.
• Bank Payroll Tax
  This document explains the new bank payroll tax that applies, broadly, to banks and building societies on awards of bonuses over £25,000 to or in respect of certain of its employees in the period from 9 December 2009 to 5 April 2010.
• Capital allowances buying: anti avoidance
  This document follows on from the earlier 21 July Technical Note. It provides information on further changes, effective from 9 December 2009, and includes draft legislation and Explanatory Notes.
• Capital Gains Tax: Private Residence Relief: Adult Placement Carers
  Changes to private residence relief rules to preserve relief for adult placement carers were announced at the 2009 Pre-Budget Report.
• Draft Legislation to Repeal the Furnished Holiday Lettings Rules from 2010-11
  This document contains draft legislation for the repeal of the Furnished Holiday Lettings (FHL) rules.
• Withdrawing the Furnished Holiday Lettings Rules from 2010-11
  This document explains in more detail how those who let furnished holiday accommodation will be affected by the repeal of the Furnished Holiday Lettings (FHL) rules.
• Enterprise Management Incentives
  This document sets out draft legislation and Explanatory Note for changes to be made to Enterprise Management Incentives (EMI) to ensure EMI rules comply with the EU State Aid guidelines.
• Enterprise Investment Scheme (EIS) and Partnerships
  The documents sets the Technical Note which explains HM Revenue & Customs (HMRC) interpretation of how section 183 of the Income Tax Act 2007 applies to companies where the relevant trade is carried out in partnerships or by a limited liability partnership, and the implications for new investment through the Enterprise Investment Scheme.
• Film Tax Relief: Unused Losses. Draft Legislation and Explanatory Note
  The documents sets out changes to legislation relating to Film Production Companies making films whose production spends are over two or more accounting periods. The proposed changes were announced at the 2009 Pre- Budget Report to take effect from the date of that announcement.
• Index-linked Gilt-edged Securities
  This document sets out a technical note, draft legislation and draft explanatory note relating to legislation that will be introduced in Finance Bill 2010 to counter avoidance using index-linked gilt-edged securities. Comments are invited.
• Inheritance tax avoidance
  This document provides the draft legislation and Explanatory Notes in relation to the announcement in pre-Budget Report that legislation will be introduced to counter inheritance tax avoidance schemes.
• Insurance Premium Tax (IPT) Premium Splitting
  Insurance Premium Tax (IPT) is paid by an insurer on the gross premium charged under a taxable insurance contract, which includes any commissions or fees unless they are charged to the insured under a separate contract. Legislation will be introduced in Finance Bill 2010 effective from 9 December 2009 to close an avoidance scheme involving an ‘administration fee’ charged under a separate contract. The legislation brings certain fees charged under a separate contract in connection with personal lines insurance into the scope of IPT.
• Life insurance companies: apportionment of income and gains
  Document includes draft legislation modifying the rules for apportioning the income and gains of a non-profit fund between categories of insurance business.
• Pensions: High income excess relief charge
  This document accompanies the consultation document - ‘Implementing the restriction of pensions tax relief' (Opens new window) published on 9 December 2009 and contains the draft legislation and explanatory notes for the proposed changes on certain key elements of the policy.
• Pensions:Special annual allowance charge
  The Government has announced new rules that apply from 9 December 2009 affecting the restriction of the amount of tax relief on pension contributions, for individuals with incomes of £130,000 and over. This technical note provides guidance on how the new rules will apply.
• Plant and machinery leasing : anti-avoidance
  This documents sets out the nature of two types of avoidance involving the leasing of plant and machinery and the proposed measures to counteract the avoidance
• Protecting Tax Revenues 2009
  This document summarises HMRC’s tax gap estimates and sets out measures that HMRC has taken, and is taking, to tackle the overall tax gap. It supplements the official statistical release.
• Research and Development (R&D) tax relief for SMEs: Intellectual property condition. Draft legislation and Explanatory Note
  The document sets out the condition of the research and development (R&D) tax relief for companies, which are small or medium enterprises (SMEs), requiring a claimant company to hold any intellectual property arising from the R&D, would not apply to any expenditure incurred in accounting periods ending on or after 9 December 2009.
• Risk Transfer Schemes
  On 9 December 2009, the Government announced that legislation will be included in Finance Bill 2010, effective from 1 April 2010, to stop excessive Exchequer risk from overhedging and underhedging transactions (‘risk transfer schemes’). Following a prior period of consultation, this document provides revised draft clauses and explanatory notes.
• Sale of Lessor Companies - consortium arrangements
  This document publishes draft legislation making changes to Schedule 10 FA 2006 dealing with companies owned by consortia.
• Sale of Lessor Companies - option to elect
  This document publishes draft legislation offering an option to elect for an alternative treatment under Schedule 10 FA 2006.
• Venture Capital Schemes
  The documents sets changes to the Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCTs), which are necessary to secure State Aid approval for the schemes.
• Worldwide debt cap: amendments to Schedule 15 Finance Act 2009
  This invites comments on a draft Schedule, to form part of Finance Bill 2010, amending parts of the debt cap rules in Schedule 15 Finance Act 2009.
• Withdrawal of extra statutory concessions - technical note
  This document details the intended withdrawal of 9 extra-statutory concessions (ESCs) as part of HM Revenue and Customs review of ESCs.

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Impact Assessments (IAs)

Consultation Stage IAs

• Changes to the Tax-based Venture Capital Schemes and Enterprise Management Incentives
  Impact Assessment of Changes to the Tax-based Venture Capital Schemes and Enterprise Management Incentives
• Withdrawing the Furnished Holiday Letting rules
  Impact Assessment of Withdrawing the Furnished Holiday Letting rules
• Strengthening and Revising the Disclosure of Tax Avoidance Schemes (DOTAS) regime
  Impact Assessment of Strengthening and Revising the Disclosure of Tax Avoidance Schemes (DOTAS) regime
• Working with Tax Agents: The Next Stage
  Impact Assessment of Working with Tax Agents: The Next Stage
• Excise: Modernisation and Compliance Checks
  Impact Assessment of Excise: Modernisation and Compliance Checks
• Tackling Offshore Tax Evasion
  Impact Assessment of Tackling Offshore Tax Evasion
• Introduction of Independent Business Reviews (IBRs)
  Impact Assessment of Introduction of Independent Business Reviews (IBRs)

Final/Implementation Stage IAs

• Code of Practice for Taxation for Banks
  Impact Assessment of Code of Practice for Taxation for Banks
• VAT Flat Rate Scheme (FRS): Changes to the flat rate percentages in January 2010
  Impact Assessment of VAT Flat Rate Scheme (FRS): Changes to the flat rate percentages in January 2010.