Budget 2018 Contents

Appendix: Assessments of tax measures from the CIOT, ICAEW, AAT and ACCA

Table 2: Assessment of tax measures in the 2018 Budget

Red Book

Measure description

CIOT

ICAEW

ACCA

AAT

3.7

Personal allowance and higher rate threshold

G

G

A

G

3.8

Off-payroll working in the private sector

A

A

R

R

3.9

Taxation of self-funded work-related training

A

R

3.10

Shared occupancy test for rent-a-room relief

G

G

G

3.11

Employment Allowance reform

A

A

3.12

National Insurance Contributions Bill

A

3.14

Short Term Business Visitors

G

3.16

Reducing administrative burdens on charities

G

A

3.17

Lifetime allowance for pensions

A

3.19

Individual Savings Account (ISA) annual subscription limit

R

3.20

Child Trust Funds

R

3.22

Annual Investment Allowance (AIA)

A

A

R

3.23

Structures and buildings allowance (SBA)

A

A

R

3.24

Capital allowances special rate reduction (8% to 6%)

A

A

A

3.25,
3.77

Entrepreneurs’ relief

A

A

R

3.26

Digital services tax (DST)

A

A

A

R

A

3.28

Corporate capital loss restriction

A

3.35 to 3.38

Business rates

A

3.39

Stamp Duty Land Tax (SDLT) and first-time buyers relief

G

G

3.40

Consultation on SDLT charge for non-residents

G

3.41

Capital gains tax private residence relief

A

A

G

3.56

Plastic packaging

A

3.70

VAT registration threshold

A

A

A

3.72

VAT fraud in labour provision in the construction sector

G

3.74

Alternative method of VAT collection–split payment

A

3.78

Profit fragmentation

G

3.80

Preventing abuse of R&D tax relief for small and medium-sized enterprises

A

A

3.83

VAT Specified Supplies Order

G

3.84, 3.85

VAT: ensuring proper adjustments (unfulfilled supplies/Regulation 38)

A

3.87

Protecting your taxes in insolvency

A

R

3.88

Tax abuse and insolvency

G

3.89

Conditionality: hidden economy

A

4.48

Apprenticeships: halve co-investment rate

A

Overview of Tax Legislation and Rates (OOTLAR)

OOTLAR

Measure Description

CIOT

ICAEW

ACCA

AAT

1.14

Corporation tax (UK property income of non-UK residents)

G

1.23

Diverted Profits tax: amendments

G

1.27

Taxing gains made by non-residents on UK immovable property

G

1.29

Inheritance tax: changes to residence nil rate band

A

1.46

Stamp duty relief for Share Incentive Plans

G

1.48

SDLT Higher Rates–minor amendments

G

1.53

Voluntary tax returns

G

1.55

Extension of Offshore Time Limits

R

2.5

Legislating the existing tax treatment of expenses for unpaid officeholders

G

2.6

Retail Gift Aid reducing the frequency of letters to donors

A

2.21

Inheritance tax -trusts settlement definition

A

2.32

Landfill Tax rates–2020 to 2021

G

2.37

Fuel duty–main rates and alternative fuels rates

A

A

2.54

Penalties reform

A

5.30–5.39

Universal credit

G

Source: Institute of Chartered Accountants of England and Wales (B180002), Chartered Institute of Taxation (B180003), Association of Accounting Technicians (B180004), Association of Chartered Certified Accountants (B180005)





Published: 12 February 2019