Chancellor's Budget 2015

Chancellor's Budget 2015

Chancellor's Budget 2015

Wednesday 18 March 2015

Wednesday 18 March 2015

The impact of this year’s General Election on the Parliamentary timetable has meant that Royal Assent to the Finance Bill came barely a week after the Budget. In his Budget speech, the Chancellor focused on the ongoing economic themes of the coalition Government and their progress over the past 5 years. While the Chancellor had a lot to say about the economy, and announced several investment decisions across the country, there were only a few major tax changes announced at the Budget. As expected, the Budget changes were, on the whole, fiscally neutral, with winners and losers to some extent at least determined by the upcoming election.

In contrast to the relatively quiet Budget, the Finance Bill (now Finance Act 2015) has brought in some substantial changes to the UK tax regime, including the new Diverted Profits Tax and the extension of the Capital Gains Tax regime to non-UK residents disposing of UK residential property (both key features of last year’s Autumn Statement). Significant elements of the draft legislation published last December, though, including the rewritten corporate debt provisions, the proposed tax exemption for trivial benefits in kind and the majority of the expected changes to the Inheritance Tax rules, did not make it into this Bill and will have to wait for a new Government to take forward. To supplement our Budget commentary, some of the key measures in (and, indeed, not in) the Act are considered in more detail below. 

Budget 2015 Webinars

KPMG's Budget 2015 webinar Thursday 19 March

KPMG hosted a Webinar on 19 March covering the Chancellor's Budget and what the changes mean for you.

Listen to the webinar. Registration required if not already registered.

Budget 2015 Chris Morgan's View

This is the last Budget of the current parliament and the Chancellor’s Budget Speech focused on the economic themes of the Coalition Government.

 
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Budget 2015: On a page

The key highlights from the Chancellor's 2015 Budget

 
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Budget 2015: Better or worse off

Chancellors Budget 2015 - Wednesday 18 March: KPMG commentary and analysis

 
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Chris Morgan

Tax Partner - Head of EU Tax Group

KPMG in the UK

+44 (0)20 7694 1714

christopher.morgan@kpmg.co.uk

 

Summer Budget 2015

Chancellor’s post election Budget - Wednesday 8 July 2015

 
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Budget 2015: Tax rate card

Updated rates and thresholds for various taxes and tax rates for 2015-16

 
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Budget 2015: Oil and Gas

The industry's commentary and analysis

 
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Budget 2015: Private Equity

Chris Morgan summarises a Budget that has no real surprises

 
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