Yesterday the “Not the Pre Budget Report” lived up to its name with nothing substantive on the tax front − although there were some prospective things flagged such as consultations on a (much better) Controlled Foreign Countries (CFC) regime and improved research and development credits as well as a new 10% rate of tax on profits from intellectual property from 2013. I think we have to wait for the rest.

Draft clauses for the Finance Bill 2011 are being published on 9 December, and next year’s Budget will be on 23 March. I can’t wait.