A summary of the key business tax announcements made in the Chancellor’s Budget on 18th March 2015

shutterstock_180695213The Chancellor has given his last Budget of this government on 18 March 2015.

The LexisPSL Tax team has put together a full summary of the Budget 2015 to provide a single source for all key business tax announcements.

Alongside these announcements, the team provides analysis of what this means to your practice and your clients, and provide links to relevant external sources (including the HMRC website), and further practical guidance in LexisPSL Tax.

Key business tax announcements

Key announcements that were new for the Budget 2015 include:

  • Immediately effective provisions to prevent corporation tax loss refresh planning
  • further restrictions on the availability of entrepreneurs' relief (ER)
  • implementation of the OECD’s common reporting standard
  • an increase in the bank levy rate to 0.21% from 1 April 2015
  • proposed restrictions on deductibility of compensation payments made by banks

Download your copy of the full report here [PDF]

Filed Under: Budget

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