On 6 December 2006, the Pre-Budget Report for 2007-08 was presented to Parliament by the Chancellor of the Exchequer. All figures are in GBP. Unless otherwise stated, the proposals are expected to take effect from 1 April 2007 for companies and 6 April 2007 for individuals. Business taxation The proposals include: -   amending the controlled foreign company (CFC) rules with effect from 6 December 2006; -   introducing new rules allowing securitization companies to elect to be taxed for periods of account starting after 2006 on the basis of their retained profits; -   amending certain aspects of the...