Autumn Statement 2015

There was much negative speculation about today’s Autumn Statement. This was fed in part by the fairly dramatic budget in July which introduced draconian measures such as increasing dividend rates by 7.5% and restricting higher rate tax relief on buy-to-let landlords. Below are just a few of the rumours that had been flying around:

1. The Entrepreneurs’ Relief lifetime limit (currently £10M) would be slashed.

2. Entrepreneurs’ Relief would be restricted in its application and would not be available in ‘non-sale’ scenarios, such as liquidations and capital reductions.

3. Following the attack on buy-to-let landlords Capital Gains Tax incorporation relief for property businesses would be removed.

Thankfully none of these rumours have come to fruition and so there is still lots of sensible non-aggressive planning that can be used to minimise tax bills – although there are some clouds on the horizon.

Please follow this link for Forbes Dawson’s summary of the day’s announcements.

 

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