The following Tax guidance note provides comprehensive and up to date legal information covering:
ARCHIVED: This Practice Note has been archived and is not maintained.
This Practice Note draws together analysis on the key milestones of the 2014/15 Budget and Finance Bill process. It includes commentary on Summer Budget 2015, Budget 2015 and Autumn Statement 2014, analysis of the provisions of Finance Bill 2015, Finance Act 2015 and Summer Finance Bill 2015.
For a detailed explanation of the annual Budget and Finance Bill process, including the procedural aspects of the passing of a Finance Act, see: The Budget and Finance Bill process. For more information on the implications of a general election on the Finance Bill process, see our News Analysis: What does the general election mean for the Finance Bill process?
The Finance (No 2) Act 2015 received Royal Assent on 18 November 2015.
The Summer Finance Bill 2015 was published on 15 July 2015.
For a summary of the progression of SFB 2015 through Parliament, see Practice Note: Finance (No 2) Act 2015—progress through Parliament.
Lexis®PSL Tax has gathered the following expert analysis on the most significant measures from Summer Finance Bill 2015:
Summer Finance Bill—Direct recovery of tax debts
Summer Finance Bill—restricting relief for goodwill
Summer Finance Bill—high earners and the annual allowance
Summer Finance Bill—lump sum death benefits
Summer Finance Bill—banking taxation, and
Summer Finance Bill—relief for finance costs related to
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