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Welcome to the special Budget newsletter for the 2007/08 edition of Tax Memo. This brings together all relevant announcements made by the Chancellor in the Budget Report on 12 March 2008 to provide a comprehensive analysis in one document. The relevant paragraphs in your online Memo product will also shortly be updated. Use the links on the left to navigate to the areas that you are most interested in. As normal there is a link for every chapter of the existing Tax Memo, but we have added 2 separate sections where significant changes have been made - firstly in the area of the taxation of non-domiciled individuals and secondly with regard to the changes to the penalties regime. We believe you find this particular newsletter useful and informative and welcome any comments you may have as to how we can improve our service. We look forward to receiving your emails at flm@flmemo.co.uk.
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Newsletter Issue 2 |
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March 2008 |
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BUDGET 2008 |
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185 PARK STREET BANKSIDE LONDON SE1 9DY (T) 020 7803 4666 (F) 020 7803 4699 |
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Disclaimer This newsletter is provided on the understanding that the information contained within it is for guidance only, and that the publisher is not in business to provide legal or accounting advice or other professional services. Readers entering into transactions on the basis of, or otherwise relying on, such information should seek the services of a competent professional adviser. Whilst every care has been taken to ensure the accuracy of the contents, the editors and the publishers cannot accept responsibility for any loss occasioned to any person acting or refraining to act as a result of any statement in it. |
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Headlines Capital allowances Confirmation of the introduction of the new system of allowances including the annual investment allowance, integral features and extensions to the “green” technology categories
Capital gains The introduction of the new regime coupled with the commencement of the entrepreneurs’ relief
Taxation of non-domiciles Details of the radical changes to the taxation of non-domiciled individuals including a number of changes on previously announced areas
HMRC powers and penalties The latest news on HMRC’s continuing powers review following the merger of the former departments of Inland Revenue and Customs and Excise |