Budget 2010: Supplementary documents
Wednesday 24 March 2010
Supplementary documents published as part of Budget 2010.
Budget illustrative tables
- Company Share Option Plans: Anti-avoidance
Draft legislation effective from 24 March 2010 countering avoidance schemes targeting Company Share Option Plans that will appear in the
Finance Bill, together with an Explanatory Note.
- Insurance Premium Tax (IPT) Premium Splitting
This is an anti avoidance measure to close a loophole whereby insured individuals are charged amounts in connection with the taxable insurance
contract under separate contracts solely to avoid IPT.
- Release of loans to participators in close companies
Amendments to the corporation tax rules on loan relationships by providing that a close company is not entitled to a deduction for the release
or writing off of a loan to a participator in that company.
- Sale of Lessor Companies - Option to Elect
Further draft of legislation that will ensure that an election for an alternative treatment under the sale of lessor companies legislation
- Share Incentive Plans: Anti-avoidance
Draft legislation effective from 24 March 2010 countering avoidance schemes targeting Share Incentive Plans that will appear in the Finance
Bill, together with an Explanatory Note.
- Life Insurance Companies: Apportionment of Income and Gains: An anti-avoidance rule
Technical note detailing proposed anti-avoidance rule which will apply when Life Insurance business is transferred between non-profit funds.
- Life Insurance - Deficiency relief
Technical note explaining from 6 April 2010, Deficiency relief available under the chargeable event gain rules will be extended and will be available
to reduce tax due on income subject to the additional and dividend additional rates of income tax.
- VAT: Postal services
Technical note setting out the changes to the scope of the VAT exemption for postal services following the European Court of Justice's decision
in TNT Post UK Ltd.
Impact Assessments (IAs)
Reports/Summaries of responses
All budget related Statutory Instruments will be published on the Office
of Public Sector Information (OPSI) website (Opens in a new window)
- Income Tax (Manufactured Overseas Dividends) (Amendment) Regulation 2010 261
- The Savings Gateway Commencement Order
- Tax Credits (Fixed Period Childcare Costs)
- The CGT (Annual Exempt Amount) Order 2010
- The Registered Pensions Schemes (Standard Lifetime Allowance and Annual Allowance) Order 2010
- Value of Landfill Communities Fund for 2010-11
- VAT Fuel Scale Charge
- VAT Thresholds