Business
View Deloitte's summary and analysis on the measures affecting business announced in the 2012 Budget.
The Government will introduce a narrowly-focussed General Anti-Abuse Rule on the basis of the Aaronson Report.
The main rate of corporation tax will decrease from 26% to 24% with effect from 1 April 2012.
'Above the line' R&D tax credits will be available for large companies from April 2013.
New CFC rules will be introduced in Finance Bill 2012, which will target profits that are artificially diverted from the UK.
Other business measures
- Aggregates levy - rate frozen
- Amendment to sub-sale relief
- Bank levy
- Betting and gaming duties
- Cap on unlimited reliefs
- Capital allowances - abolition of reliefs
- Capital allowances - business premises renovation allowance
- Capital allowances - changes to allowances and thresholds for low emission cars
- Capital allowances - enhanced capital allowances for energy saving technologies
- Capital allowances - feed-in tariffs and renewable heat incentives
- Capital allowances - first-year allowances for gas refuelling equipment
- Capital allowances - fixtures
- Capital allowances - plant and machinery anti-avoidance
- Capital allowances - writing-down allowance rate changes
- Changes to QROPS rules
- Changes to enterprise management incentive plans
- Changes to the cost of providing company cars and private fuel
- Climate change levy
- Climate change levy - carbon price floor
- Climate change levy - combined heat and power levy exemption certificates
- Climate change levy - metal recycling
- Consultation announced on proposed changes to manufactured payments rules
- Contributions paid to pensions of spouses or family members
- Corporation Tax - changes to grouping rules
- Dishonest agents
- EIS and VCTs
- Enterprise Zone: first-year allowances for designated areas
- Employee share schemes review
- Employer asset-backed pension contributions
- Extension of the proposed GAAR to cover stamp duty land tax
- HMRC information powers and penalties
- Landfill tax
- Low value consignment relief
- Machine games duty
- New consultation on an annual levy for properties held by companies worth over £2 million
- North Sea Fiscal Regime
- Patent box
- PAYE penalties
- Online registration, deregistration and changes to business details
- Plant and machinery leasing: anti-avoidance
- Remote gambling taxation
- Sale of companies carrying on a business of leasing plant or machinery
- Tax simplification for small unincorporated businesses
- Tax relief for the creative sector
- VAT: car and boat dealerships
- VAT: education
- VAT: freight transport
- VAT: fuel scale charges
- VAT: invoicing
- VAT cost-sharing exemption
- VAT grouping: extra statutory concession
- VAT registration and deregistration thresholds
- VAT registration threshold for businesses not established in the UK
- VAT treatment of cable-based transport
