We start the analysis of the 2015 Budget looking back to the end of 2014, when the government proposed various clauses of the Finance Bill 2015 together with updates on consultations. Due to the forthcoming dissolution of Parliament on 30 March some measures will be legislated for in the week commencing 23 March, whilst others will be enacted by a Finance Bill in the next Parliament (but this will depend on the outcome of the General Election).
Our summary focuses on the issues likely to affect you, your family and your business. To help you fully understand what was announced we have included our own comments. If you have any questions please do not hesitate to contact us for advice.
Main Budget tax proposals:
Increased personal allowances
The introduction of a new Personal Savings Allowance
Changes to ISAs, including the introduction of a new type of ISA for First Time Buyers
Changes to pensions
Potential business rate reform in England
Entrepreneur’s Relief – changes to qualifying conditions
To read our full analysis click here.
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