Finance Act 2007
The Finance Act 2007 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 Budget of 21 March 2007.
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 relevant taxation acts.. The Finance Act details amendments to be made to each one of these Acts.
