Summer Budget 2015
Today the Chancellor presented his second budget of 2015. There were some well publicised ‘big’ picture stories but also he managed to squeeze in some big changes to the taxes that will affect most businesses:
Announcing the point at which people pay tax (National Insurance has lower thresholds) from 6 April 2016 to £11,000
Cutting Corporation Tax – but you will have to wait until 2017 for that!
An overhaul of the tax credits system together with changes to the Minimum wage and the Employer’s Allowance
A reform of dividends including a £5,000 dividend allowance – this will feature in a future newsletter
A consultation on the sustainability (withdrawal?) of tax relief on pension contributions
Confirming the planned Annual Investment Allowance reduction to £25,000 in December will not go ahead and be replaced with a ...
