BUDGET 2016Mar. 16, 2016, 10:06pm
Sugar Tax caught the headlines, but a budget initially billed as being ‘boring’ has some interesting reforms:
Capital Gains Tax rates down from 28% to 20% for higher earners;
Income tax basic rate band up to £45,000 (unless you are in Scotland);
Business rates reform…although not for our own modest office!
Class 2 NIC to be scrapped …at the risk of being sarcastic…a saving of £145 a year!
Lifetime ISA’s and a 25% ‘bonus’; sounds too good?
Many of the figures are fundamental to our business and personal lives as such we have prepared a summary of the key budget changes – click here to download our summary.
We have also prepared a handy tax rates reference card for 2016/2017. Click here to download our tax card. We are sure that you will find the tax card a useful point of reference throughout the coming tax year and below we have listed just a few examples of how it can be used.
Should you require any further information, have a simple question or require detailed advice we are only a phone call away.