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Budget 2010: Supplementary documents

Wednesday 24 March 2010

Supplementary documents published as part of Budget 2010.

Budget illustrative tables

Draft legislation

  • 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 operates fairly.
  • 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.

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Guidance/Technical notes

  • 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.

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Impact Assessments (IAs)

Final/Implementation stage

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Reports/Summaries of responses

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Statutory Instruments

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

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Other documents

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