Budget 2014: The detail and the summaries

HM Treasury and HMRC have posted hundreds of pages of information on yesterday’s Budget, and this page is a useful starting point. HMRC’s short overview of the key announcements is here.

A longer HMT/HMRC overview of tax legislation and rates etc has more than 170 pages but it deals with more than the Budget. It sets out

(a) measures to be included in next week’s Finance Bill (most of which had already been announced) and

(b) measures to be legislated in next year’s Finance Bill (or, in the case of the class 2 NICs simplification measure for example, “when parliamentary time allows”).

There is a lot to digest for tax professionals, and some of yesterday’s announcements will affect clients either immediately or very soon.

Some professional firms and tax publishers have already posted summaries, but much of the detail will not be known until the Finance Bill appears on 27 March. The summaries focus, naturally, on the practical impact of a tax policy announcement rather than the policy itself, and they include this one from LexisNexis*:

Budget 2014: Lexis PSL Tax Analysis

Budget 2014: Tolley Guidance and Tolley Library

There is also useful commentary elsewhere, including:

Financial Times (£)

ICAEW Tax Faculty

KPMG

Macfarlanes

Pinsent Masons