- Budget 2007 home
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Budget measures - Business
- Auctions of emission allowances
- Avoidance involving financial arrangements
- Capital allowances
- Changes to UK rules on CFCs
- Company car tax
- Company fuel tax
- Compliance Risk Management
- Corporate capital loss and gain buying
- Criminal investigation powers & safeguards
- Delivering a new relationship
- Employee benefit trusts
- Empty property relief
- Film tax regime
- HMRC consultation framework
- HMRC online services
- Incorrect returns
- Investment manager's exemption: carbon trading
- Islamic finance products
- Landlord's energy saving allowance
- Managed service companies
- Management Act dropped
- Offshore funds
- Programme of guidance improvements
- Property Authorised Investment Funds
- Recognised stock exchanges
- Research & Development
- R&D allowances
- Sale and repurchase agreements
- Sale of Lessor rules
- Securitisation companies
- Tax rate changes
- Taxation of foreign profits
- Taxation of personal foreign dividend income & impact on corporations
- Treaty financing applications
- VAT payments by cheque
- VCTs
- Environment
- Aggregates levy
- Capital allowances
- Climate Change Levy
- Commentary - Environmental taxes
- Company car tax
- Energy-saving products
- Excise duty on fuel
- Fuel scale charges
- Investment manager's exemption: carbon trading
- Land remediation relief
- Landfill tax
- Landlord's energy saving allowance
- Renewables obligation certificates
- Stamp Duty Land Tax relief
- Insurance
- North Sea oil tax
- Personal tax
- Alternative finance arrangements
- Car and fuel benefits
- Company car tax
- Company fuel tax
- Criminal investigation powers & safeguards
- Foreign properties owned by companies
- Gift Aid benefit limits
- HMRC online services
- Incorrect returns
- ISA limits
- Landlord's energy saving allowance
- Life insurance policies
- Managed service companies
- Management Act dropped
- Modernising the personal tax system
- Offshore funds regime
- PEP amendment regulations
- Pensions tax
- Pre-owned assets
- Purchased life annuities
- Renewables obligations certificates
- Targeted anti-avoidance legislation for CGT
- Tax rate changes
- Tax relief for service charges
- Taxation of personal foreign dividend income
- Trust modernisation
- VAT payments by cheque
- VCTs
- Stamp taxes
- VAT & Indirect taxes
- Aggregates levy
- Betting and gaming changes
- Charities charge
- Climate Change Levy
- Compliance Risk Management
- Criminal investigation powers & safeguards
- Energy-saving products
- Excise duty on alcohol
- Excise duty on fuel
- Excise duty on tobacco
- Housing for elderly people
- Insurance Premium Tax
- Landfill tax
- Management Act dropped
- Missing trader fraud
- Non-business use of buildings
- Smoking cessation products
- Transfers of a going concern
- VAT fuel scale charges
- VAT payments by cheque
- VAT penalty regime
- VAT registration thresholds
- Withdrawal of excise duty relief
- Budget 2007 podcast
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Roger Bootle - Commentary
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Budget preview - Sir Digby Jones
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VCTsQualifying conditions for venture capital trusts (VCTs), enterprise investment schemes (EIS) and corporate venture schemes (CVS) are to be changed. A qualifying company or group cannot employ more than fifty full time employees at the date the shares are subscribed for. The company or group must have raised no more than £2 million under any or all of the above schemes during the twelve months ending on the date of the relevant investment. If this condition is breached, none of the shares in the issue that causes the limit to be exceeded will qualify for relief under any of the schemes. The employee test and investment limit will not apply to investments made out of funds raised by VCTs before 6 April 2007, or to EIS or CVS shares issued before the 2007 Finance Bill receives Royal Assent. The inadvertent breach rules are to be replaced and HMRC is to be given new powers to make Regulations in respect of the non-withdrawal of VCT approval. The 70% qualifying holdings rule is also to be amended, so that disposals
of qualifying holdings on or after 6 April 2007 will be ignored for the
purpose of the 70% test if they have been held as part of qualifying
holdings for least 6 months. This amendment is intended to give VCTs up to 6
months to reinvest or distribute disposal proceeds.
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