Budget 2013 policy decisions
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Head2013-14, £m2014-15, £m2015-16, £m2016-17, £m2017-18, £m
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Previously announced (smaller measures)
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1Carbon Reduction Commitment: exclude schoolsTax00-65-65-65
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2Government response to OTS review of share schemesTax-40-45-50-55-55
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3Carbon price floor: Northern Ireland exemptionTax-20-25-40-45-45
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4Annual charge and SDLT 15% rate: reliefs for commercial businessesTax-30-40-40-40-45
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5Capital Gains Tax on disposals of high value residential property: extension to UK non-natural personsTax250055
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6Universal Credit: exempt from income taxTax00-35-35-30
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7Debt Cap: tightening of rulesTax5060503530
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8Building Societies: capital instrumentsTax2020202030
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9Employee shareholder status: CGT changesTax00*530
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10Enterprise Management Incentive: qualification for CGT entrepreneurs’ reliefTax-10-15-20-25-25
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11Lorry road user levy and offsetting VED reductionTax025252525
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12Income tax: transfer of assets abroadTax00-10-10-10
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13Cap on reliefs: exemption for EIS share loss relief and overlap reliefTax0-20-10-10-10
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14Carbon price floor: non rate changesTax55555
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15Disincorporation reliefTax-10-5-5-5-5
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16Vehicle Excise Duty: PIP disability exemptionTax-10-10-10-50
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17Pension Credit pass throughSpend5555*
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Previously announced (Mid Term Review) Single Tier: introduce from 2016-17:
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18Contracting out NICs: public sector employersTax00033253285
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19Contracting out NICs: public sector employeesTax00013651350
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20Contracting out NICs: private sector employersTax000570565
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21Contracting out NICs: private sector employeesTax000235235
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Other Mid Term Review:00
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22Inheritance tax: threshold freeze for 3 years from 2015-16Tax002080170
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23Social Care funding reform: introduce Dilnot cap from 2016-17Spend000-1000-1000
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24Childcare additional fundingSpend00-400-750-750
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Growth and Enterprise
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25National Insurance: £2,000 Employment AllowanceTax0-1255-1370-1595-1725
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26Corporation tax: reduce main rate to 20% from 2015-16Tax0-5-400-785-865
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27Capital Spending: maintain 2014-15 levelSpend00-3000-3000-3000
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28Affordable housingSpend0-125000
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29Right to Buy changesSpend-545405050
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30Stamp duty: abolish schedule 19 chargeTax0-145-145-150-160
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31Abolishing stamp duty on AIM and other junior sharesTax5-170-170-170-175
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32Seed Enterprise Investment Scheme: extend CGT holiday to 2013-14Tax0-5*00
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33Employee shareholder status: income taxTax0-15-45-65-75
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34R&D Tax Credits: increase Above the Line credit to 10%Spend-20-80-85-90-95
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35Employee ownership: additional supportSpend0-50-50-50-50
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36Industrial StrategySpend-125-160-180-180-180
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37Growth vouchersSpend-10-25000
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38Tax relief: health interventionsTax0-10-10-10-10
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39Health interventionsSpend010101015
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40Bank Levy (including offsetting CT changes)Tax0195250245250
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Personal Tax
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41Personal allowance: increase by an additional £560 to £10,000 in 2014-15Tax0-1075-1045-1060-1210
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42Pensions tax relief: individual protectionTax010080500
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Duties
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43Fuel Duty: cancel September 2013 increaseTax-480-810-835-870-900
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44Alcohol: 1p off pint of beer and abolishescalator in 2014-15Tax-170-215-210-205-205
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Avoidance and Debt3951025139510751020
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45Tax repatriation from Jersey, Guernsey, and Isle of ManTax80240325235170
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46Offshore employment intermediariesTax080858590
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47PartnershipsTax0125365300285
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48Corporation Tax: lossesTax260305270205190
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49Loans from close companies to participatorsTax065757060
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50IHT: limiting deduction of liabilitiesTax520151515
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51General Anti-Abuse Rule: non revenue protectionTax060504085
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52Stamp Duty Land Tax: subsalesTax4535302525
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53Debt: improving coding outTax00454045
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54Avoidance schemes: enhanced information powersTax05353535
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55Penalties in avoidance casesTax05560510
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Motoring and Environment
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56Capital allowances: Ultra Low Emission VehiclesTax00-5-25-35
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57Company car tax: ULEVsTax00-10-15-15
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58VED: freeze rates for HGVs in 2013-14Tax-10-10-10-10-10
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59Aggregates levy: freeze in 2013-14Tax-10-15-15-15-15
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60Capital allowances: energy and water efficient technologiesTax515253020
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61Capital allowances: energy saving plant & machinery in Northern IrelandTax0551010
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Changes to spending forecasts
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62Spending total adjustmentSpend13251085000
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63Official Development Assistance: adjusting to meet 0.7% GNI targetSpend135165200200305
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64Special ReserveSpend3000000
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65 Equitable lifeSpend0-45000
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TOTAL POLICY DECISIONS1315-1650-285017401305
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Total spending policy decisions16051055000
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Total tax policy decisions-290-2705-285017401305
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Total tax policy decisions excluding impact on Government departments-290-2705-2850-1585-1980
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Financial transactions-1150-1430-155000
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Help to Buy extension-150-445-36000
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Notes: * Negligible. - Spending measures do not affect borrowing in 2015-16, 2016-17 and 2017-18 as they fall within the Total Managed Expenditure assumption.1 Costings reflect the OBR’s latest economic and fiscal determinants. 2 Additional funding for childcare will start in Autumn 2015. The Government is allocating £750m per annum for this support. 3 Financial transactions impact on PSND and not PSNB so do not feed through to the bottom line.
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Budget 2013 policy decisions