Budget analysis – Duties

Speed Read: The 2010 Budget imposed, with only a few exceptions, above inflation rate rises in all the major indirect tax duties and levies, with one of the largest increases being for the duty on cider. A new duty on landlines in the UK will be introduced effective from 1 October 2010, set at 50 pence per month. The Impact Assessment of Excise: Modernisation and Compliance Checks has been published which follows up on a number of consultation documents. High level rules for record-keeping and time limits are to be aligned across all the taxes and duties.