Finance Act 2003
The Finance Act 2003 (c.14) is an Act of the Parliament of the United Kingdom prescribing changes to Excise Duties, Value Added Tax, Income Tax, Corporation Tax, and Capital Gains Tax. It enacts the 2003 Budget speech made by Chancellor of the Exchequer Gordon Brown to the Parliament of the United Kingdom.
In the UK, the Chancellor delivers an annual Budget speech outlining changes in spending, tax and duty. The respective year's Finance Act is the mechanism to enact the changes.
The rules governing the various taxation methods are contained within the various taxation acts. (For instance Capital Gains Tax Legilation is contained within Taxation of Chargeable Gains Act 1992.The Finance Act details amendments to be made to each one of these Acts.
Read more about Finance Act 2003: Stamp Duty Land Tax
Famous quotes containing the words finance and/or act:
“A bank is a confidence trick. If you put up the right signs, the wizards of finance themselves will come in and ask you to take their money.”
—Christina Stead (1902–1983)
“To die is not to play a part in society; it is the act of a single person. Let us live and laugh among our friends; let us die and sulk among strangers.”
—Michel de Montaigne (1533–1592)