Budget 2016: Commentary | KPMG | UK

Budget 2016: Commentary

Budget 2016: Commentary

KPMG’s Budget 2016 Commentary covers the key tax measures announced on 16 March and what they mean for Businesses, Individuals and Employers.


Head of Tax, Pensions and Legal Services

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Budget 2016: Commentary

The measures covered include:

  • Business tax road map
  • Loss relief
  • Royalty payments
  • BEPS announcements
  • Tax deductibility of corporate interest
  • Changes to SDLT on non-residential property
  • SDLT surcharge on second homes and buy-to-lets
  • Reduction in CGT rates from 6 April 2016
  • Lifetime ISA
  • Off-payroll working in the public sector: reforming the intermediaries legislation
  • Tax and National Insurance Contributions (NICs) changes to termination payments 
  • Extension of Entrepreneurs’ Relief to Long Term Investors
  • Entrepreneurs’ Relief changes for associated disposals and joint venture companies
  • New definition of domicile for tax purposes
  • Capital Gains Tax: lifetime limit on Employee Shareholder Status exemption
  • Profits from trading in UK land
  • VAT - Tackling overseas trader evasion
  • Oil and gas taxation
  • Soft drinks industry levy
  • Increase in the standard rate of IPT
  • Stamp duty and stamp duty reserve tax on options

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