Pre-Budget Report 2009 Introduction Personal tax Tax rates and allowances Furnished holiday lettings Pensions and Credits State Pension Rates of tax credit National Insurance Contributions Rates and limits: 2010/11 Rates and limits: 2011/12 Employees Bankers' bonuses Electric cars and vans Cars up to 2012 Car fuel Works canteen Savings Pension contributions Capital Gains Tax Annual exemption and rate Inheritance Tax Rates and threshold Stamp Duty/Stamp Duty Land Tax Extended holiday ends Corporation Tax Rate of tax Business Tax Bank payroll tax Capital allowances Research and development Time to pay Empty property rates relief Value Added Tax Standard rate Flat rate Other Measures Equitable liability Offshore disclosure opportunity Public sector pay and pensions Tax avoidance

Equitable liability If a taxpayer fails to file a tax return on time, they may be issued with a determination by HMRC based on an estimate of the liability. The only way to displace a determination is to file a tax return. If the taxpayer fails to do that within the time limit, the tax is legally due and cannot be appealed against. By concession, in the past HMRC have offered a relief called "equitable liability" - if it was clear that the determination was excessive, they would not collect the tax. Recently a number of concessions - practices which HMRC operate to moderate the harshness of the law - have been withdrawn, and equitable liability was one of these. After a campaign by the tax profession, it will now be included in the law itself, so that HMRC will not collect tax where it is clear that a determination is excessive. To qualify, a taxpayer must be able to show that the amount is too large, and must bring his tax affairs up to date by filing appropriate tax returns and paying outstanding tax, interest and penalties. It will still be better to do everything on time rather than relying on this new rule.