Weekly Tax Brief - Summer Budget Special - 9 July 2015

The rabbits are out of the hat at last. In a Budget which will add dramatically to the length of the UK tax code, the Chancellor of the Exchequer yesterday proposed tax increases of £47bn while reducing welfare payments, increasing the minimum wage and reducing the corporation tax rate.

In this week’s Tax Brief we uncover some of the underlying themes from George Osborne’s Big Summer Budget.

Another step towards scrapping corporation tax

09 July 2015

The proposal to reduce the 20 per cent corporation tax rate to 19 per cent in 2017 and to 18 per cent in 2018 came as a complete surprise. Neither business groups nor professional advisers had been asking for this. So what’s really going on?

Summer Budget 2015 measures - simpler for whom?

09 July 2015

The government doesn't really want to deal with your tax affairs (though it still wants you to pay the tax!).

Tax barriers to personal aspirations

09 July 2015

An emerging theme is a simplification of the tax system for basic rate taxpayers coupled with significant further complexity for companies and high-income individuals. It’s worth asking whether the bundle of tax changes for individuals proposed by the Chancellor risks stifling aspiration.

Cash will always be king

09 July 2015

This Chancellor has found a way to bring in huge additional revenues without touching tax rates. What’s the trick?

The Budget and employers an unexpected partnership?

09 July 2015

In his Budget the Chancellor set out his road map for the future, moving Britain towards a higher wage, lower tax and lower welfare economy.

Be prepared for more prosecutions

09 July 2015

Do you share the view expressed during the last Parliament by the Public Accounts Committee that HMRC has been reluctant to prosecute tax evaders? If so, get ready to change your perception.

Will Budget announcements affect birth and death rates?

09 July 2015

The Budget includes a number of measures that depend on knowing the precise date on which somebody was born or died. This can have unexpected consequences.