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Please NOTE this page refers to budget 2000!

CLICK HERE FOR BUDGET 2006-2007

CLICK HERE FOR BUDGET 2005-2006
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CLICK HERE FOR BUDGET 2002-2003
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For budget 2001-2002 [Click here]
starting a business? Budget 2001
Corporation Tax remains at 30%

Changes to double taxation relief and controlled foreign company rules which will raise the amount of tax multinationals have to pay.

Small Business Banking referred to the Competition Commission.

Legislation to come to ensure the UK payments system is open to new competition.
£150m added to R&D tax credit to finance 30% of Research and Development.

Encouragement to 1 million small businesses.

For the next three years, any small business buying computers or investing in e-commerce and new technology will be able to write off against tax the full cost.

Capital Gains Tax

The holding period for CGT taper relief on business assets has been cut from 10 years to 4, while broadening the definitions of "business assets". - Higher rate tax payers investing in businesses will pay a CGT rate of 10% on assets held for 4 years.

Stamp Duty

Stamp Duty rises from 2.5% to 3% for properties worth £250,000 to £500,000. For properties worth more than £500,000 stamp duty rise from 3.4% to 4%. - The rises will give the Treasury an estimated extra £325m. - The tax increases will come into effect from March 28th.

Climate Change Levy

Liquefied petroleum gas to benefit from a lower tax rate of 0.07% - Pipe Insulation, refrigeration equipment and thermal screens to count as enhanced capital allowances for companies making energy saving investments. - A £50m fund to encourage energy efficiency in horticulture.



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