Budget 2015 – Forbes Dawson’s Top Ten

BUDGET 2015 – OUR TOP TEN HIGHLIGHTS

Today’s Budget was George Osborne’s last before Britain goes to the polls.  With a promise of “no gimmicks, no giveaways” it is fair to say that there were no major pre-election “bungs” to the voters.  Nevertheless, there were some welcome announcements, including the following:

  • First-time-buyers who save for a deposit will be handed up to £6,000 to help them get on the property ladder;
  • Savers will now be able to receive up to £1,000 per annum tax-free;
  • Pensioners trapped in annuities will be given the freedom to benefit from the pension reforms announced last year;
  • The personal tax allowance and basic rate thresholds will be increased.

We are pleased to report our regular “Budget Top 10”, covering the main announcements and changes to be aware of.  You can access the document by clicking here.

In addition to those mentioned above, our highlights include:

  • Entrepreneurs Relief changes regarding management shareholders and the associated disposal rules.
  • CGT for non-residents
  • Changes to EIS/VCT scheme rules
  • Inheritance Tax
  • HMRC measures affecting users of tax schem​es

We always welcome the opportunity to discuss any tax issues arising from the Budget or otherwise with clients and advisers.  For further information please speak to your usual FD contact.

From all the team at Forbes Dawson, best wishes for a prosperous 2015/16 Tax Year!

 

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