The first conservative Budget in 19 years has brought about various important announcements and confirmed a number of changes planned for the forthcoming tax years.
The significant changes are as follows:
- Increase in the inheritance tax threshold,
- Taxation of dividends on individuals,
- Tax Treatment of nondomiciled individuals,
- Restriction on interest relief for buy to let landlords,
- Decrease of corporation tax rates to 18% by 2020
- Tapering of the pensions allowance amongst other changes.
Following this, we have put together a report which contains the latest tax and financial information, which we trust you will find useful. For more information on how the changes may affect you, please contact us.