The summaries themselves are not intended to be exhaustive, but what we have seen amongst these highlights are:

• a squeeze the rich or “quite” rich policy which may lead to a greater appetite for tax planning
• a huge array of anti-avoidance measures, BUT only one retrospective provision and no General Anti-avoidance Rule.
• HMRC will shortly publish a Spotlight giving notice of selected avoidance schemes that are thought to be ineffective to discourage potential users. HMRC say they will challenge these schemes when encountered.
• a new Offshore Disclosure Opportunity starting in autumn 2009. Is this the last chance for people with untaxed income offshore to sort things out?
• a naming and shaming provision for those who pay a penalty for deliberate evasion
• greater obligations from those who pay a penalty for deliberate evasion
• Senior officers of Large Corporates will have to sign that they have systems that produce accurate results for tax. HMRC are concerned about systems and rather than do the work they want corporate to do it for them.
• A Taxpayers Charter will be introduced.
• Tucked away in the last section in the last of the Other documents the removal of ‘equitable liability’.
• Another Consultation Document (the 17^th) on Modernising Powers, Deterrents and Safeguards- this time on working with tax agents. It expresses concern about the competence (and occasionally honesty) of a small minority of tax agents and looks at the case for a scheme of registration for tax agents.
• HMRC are raising the SA ‘Three Line Account’ turnover limit to permanently align with the VAT registration threshold (£68,000) for the self-employment, trade and UK property pages, or sections, from the 2009-10 Main Tax Return, Short Tax Return and Partnership Tax Return.

For more information on the budget highlights, select the appropriate link on the right of the screen.

Sub Pages

• General
• Corporates
• Company Cars
• Anti-Avoidance Measures
• Anti-Evasion Measures
• Extra Statutory Concessions