Contents
1.1 Introduction 1
1.2 Business Tax 1
1.3 Personal Tax 2
1.4 General Anti-Abuse Rule 3
1.5 Indirect Tax 3
Introduction
For detailed coverage and comment on the Budget visit
Deloitte‟s dedicated website at
www.ukbudget.com
Many of today‟s Budget measures had already been set
out at the time of the 2011 Autumn Statement or by subsequent
official announcement. Accordingly, this Bulletin focuses on those
matters which are new or have been clarified.
Leading up to the Budget, there had been much speculation
directed, in particular, towards: the future of the 50% income tax
rate; by how much the personal tax allowance might increase; how
tax might be collected from the ownership of expensive residential
property; and what next for a General Anti-Abuse Rule (GAAR)? These
questions have been answered although some might be particularly
surprised by the range of proposals to collect tax in respect of
high value residential properties: an increase
