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Budget Process Revealed
Date Added: Mon April 20 2009
The Budget is often seen by business owners as a mystery. Here Directgov explains the Parliamentary process:

The re-imposition of annual taxes, such as income tax and corporation tax, and most other tax changes announced in the Budget are legislated in the annual Finance Bill. This is normally published in early January and is considered by Parliament in the Spring, with Royal Assent given by the start of May.
One of the key features of tax legislation, which distinguishes it from any other legislation is that measures announced in the Budget may take effect before the Finance Bill is enacted. The approval of Budget resolutions permits this to take place.

The Budget resolutions are tabled as soon as the Chancellor has finished the Budget speech. Under the Provisional Collection of Taxes Act 1968, these resolutions, once passed by the House of Commons, authorise the imposition of certain taxes or changes in their rates. The Budget resolutions are tabled at the end of the Chancellor's statement and they are voted on at the end of the Budget debate. If passed they can then take effect.

Under the procedures for Budgets the changes on excise duties - taxes on alcohol and petrol for example - often take effect from 6pm on Budget Day, but sometimes a later implementation date is chosen. (Source Directgov)