 In August 2002, Reform of corporation tax – A consultation document was published, outlining initial proposals for the abolition of the Schedular system. This was followed up in August 2003 by Corporation tax reform – A consultation document, which further discussed the possible abolition of the Schedular system, and also whether the capital allowances (tax depreciation) system should be abolished. It also made proposals that were ultimately enacted in the Finance Act 2004. (The first two of these listed below were in response to threats to the UK tax base arising from recent European Court of Justice judgments.) The changes were to:
