VAT on property - detailed technical changes tidying up the new VAT on property rules - core principles unaffected

VAT on Property - Anti-avoidance provisions preventing connected persons from acting before the new rules come in on 1 July

CGT - Transfers of chargeable assets to an "unauthorised investment company" no longer qualify for relief from CGT group or reconstruction provisions

VRT - New scheme based on carbon emissions from 1 July 2008

12.5% rate extended to some foreign dividends

Relaxation of close company surcharge

Extension of qualifying assets for securitisation

Restriction of relief on purchased know-how

BES - details on further amendments available

2003 base year for R&D credit purposes extended

100% capital allowances on selected energy efficient equipment

Anti-avoidance legislation on use of convertible securities

Statutory basis for exclusion of "salary sacrifice" in certain circumstances

Relaxation of 8 year deemed disposal rule for funds

Fund reorganisation rules extended

Stamp Duty changes to Residential Property

Motor Tax - Increase by 9.5% for vehicles with engine size under 2.5 litres

Motor Tax - Increase by 11% for vehicles with engine size above 2.5 litres

Motor Tax - Linked to carbon emissions basis from 1 July 2008

Farmer taxation - New CGT exemption for dissolutions of farm partnerships

Farmers VAT - Flat rate addition to remain at 5.2%

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