New tax year

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@crowecw
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From 1 April 2015
The tax road ahead
Corporation
tax cut to...
Increased business rate support for
shops, pubs, cafés and restaurants as
retail discount is raised to...
No National Insurance
Contributions for
under 21s
Relief available
for qualifying
R&D expenditure
for SMEs rises to...
Amount of a bank’s annual profit that
can be offset by carried-forward
losses limited to...
Tax relief for children’s
TV production Diverted Profits Tax starts25%
£1,500
£71
50%
0.21%
From 6 April 2015
Bank levy
rises to...
230%
Cheaper long-haul flights for passengers
travelling over 4,000 miles. Air passenger
duty to rise to...
Individuals no longer obliged to buy an
annuity and can access their defined
contribution pension flexibly
New bands for
Annual Tax on
Enveloped
Dwellings
Travel expenses paid to councillors by
their local authorities will be exempt
from Income Tax and employee NIC
THE CONSTRUCTION INDUSTRY SCHEME: Businesses will be allowed
earlier repayment to liquidators in insolvency proceedings
Share scheme rules
for expatriate employees
now subject to UK income
tax changes
Employment intermediaries
to report on all workers they
place where they don’t
operate PAYE
• The nil return obligation will be amended
• Joint ventures (where there is already one member with a gross status)
will be allowed easier access to a gross pay status
2
New rates taken from HM Treasury website,
26 March 2015.
20%