Alistair Darling delivered his first Budget report on 12 March 2008. The measures affecting individual taxpayers are likely to attract the lion’s share of the press coverage but there were also a number of announcements that will impact on business, including significant changes to the tax treatment of certain funds and, in common with recent Budgets, a raft of anti-avoidance measures.
Unusually, the big surprise this year was not what was included in the Budget but rather what was missing from it, in particular the Government’s decision to delay both the publication of updated proposals on the taxation of foreign profits and the implementation of the principles-based legislation relating to disguised interest and transfers of income streams.
LINKLATERS - UK TAX FLASH
Unusually, the big surprise this year was not what was included in the Budget but rather what was missing from it, in particular the Government’s decision to delay both the publication of updated proposals on the taxation of foreign profits and the implementation of the principles-based legislation relating to disguised interest and transfers of income streams.
LINKLATERS - UK TAX FLASH
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