Other provisions
Inheritance tax (IHT)
The inheritance tax nil rate band will remain at £325,000 for 2010/11, instead of rising to £350,000 as legislated for in the Finance Act 2007.
Antiavoidance
measures were announced that are aimed at certain trustbased
schemes which were designed to reduce or eliminate the value on which IHT is charged on transfers. The measures apply from 9 December 2009.
Stamp duty land tax (SDLT)
The Government has confirmed the ending on 31 December 2009 of the temporary increase to £175,000 of the zero rate threshold for residential property.
The Disclosure of Tax Avoidance Schemes provisions will be extended to certain SDLT avoidance schemes that concern residential property with a value of at least £1 million.
Stamp duty and stamp duty reserve tax
From 1 October 2009, transfers of securities to a nonEU
clearance service or depositary receipt issuer will no longer be exempt from stamp duty or stamp duty reserve tax if they form part of a scheme to avoid the 1.5% stamp tax charges.
Climate change levy
Climate change agreements give facilities in energyintensive
sectors an entitlement to pay a reduced rate of climate change levy. This reduced rate is to be increased from 20% to 35% of the full rate from 1 April 2011.
Support for internships
The Government will contribute £8 million towards a new financial support scheme for around 10,000 undergraduates a year undertaking short unpaid internships, from summer 2010, in professions with historically low access for such people.
Business rates
Empty properties with a rateable value of up to £18,000 will continue to be exempt from business rates for 2010/11.
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