Commentary

A1.103 The annual Budget statement and passing of Acts imposing taxes

Administration and compliance

A1.103 The annual Budget statement and passing of Acts imposing taxes

Part A1     Legal Framwork of the UK Taxation System

Contents of Part A1

A1.1     The UK taxation system

A1.3     Alternative finance arrangements

[A1.4]     [Rewritten—Persons assessable]

A1.5     UK devolved taxes

A1.6     Crown privilege

A1.7     Recovery of tax by or against the Crown

A1.8     Professional negligence

Division A1.1     UK taxation legislative regime

For updates affecting this Division please see Part A0 Updates

How does tax legislation become law?

A1.103 The annual Budget statement and passing of Acts imposing taxes

Taxes are creatures of statute and depend for their validity solely upon the Acts of Parliament creating them; the function of the courts in relation to tax is to interpret those Acts and not to create the law.

The Government's taxation and expenditure proposals are usually presented separately to Parliament in the Chancellor's pre-Budget Report. The taxation proposals for the forthcoming financial year are then set out in the Budget1 statement which is normally presented before the start of the financial year. Pre-Budget and Budget documents must conform to the code of financial stability, which aims to achieve transparency, stability, responsibility, fairness and efficiency in the formulation

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial