{"id":1103,"date":"2015-03-18T14:23:43","date_gmt":"2015-03-18T14:23:43","guid":{"rendered":"http:\/\/jsrcharteredaccountants.com\/?p=1103"},"modified":"2015-03-18T14:23:43","modified_gmt":"2015-03-18T14:23:43","slug":"budget-2015-the-key-points","status":"publish","type":"post","link":"https:\/\/jsrcharteredaccountants.com\/budget-2015-the-key-points","title":{"rendered":"Budget 2015  &#8211; The Key Points"},"content":{"rendered":"<h2>The Key Points from todays budget are:<\/h2>\n<ul>\n<li>Personal tax-free allowance will be increased to \u00a310,800 in April 2016, and to \u00a311,000 in April 2017.<\/li>\n<li>Beer duty to be cut for the third year running, with 1p off the price of a pint. Cider duty to be cut by 2%. Duty on scotch whisky and other spirits to be cut by 2%. Wine duty to be frozen.<\/li>\n<li>Pension pot lifetime allowance to be reduced from \u00a31.25m to \u00a31m from next year, saving \u00a3600m annually.<\/li>\n<li>National Minimum Wage will rise by 20p an hour to \u00a36.70 from October.<\/li>\n<li>Corporation tax to be cut to 20% in two weeks\u2019 time.<\/li>\n<li><strong>\u00a0<\/strong>&#8220;Help to buy ISA&#8221; will be launched for first-time buyers. For every \u00a3200 saved for a deposit, the Government will top it up with \u00a350.<\/li>\n<li>Personal savings allowance to be launched, taking 95% of Britons out of savings tax altogether.<\/li>\n<li>Fuel duty increase scheduled for September is cancelled.<\/li>\n<li>Employers\u2019 National\u00a0Insurance contributions for under-21s to be abolished from this April, and for young apprentices from April 2016.<\/li>\n<li><strong>\u00a0<\/strong>Class 2 National Insurance contributions for the self-employed to be abolished entirely in the next parliament.<\/li>\n<li>Annual tax return to be abolished altogether.<\/li>\n<li>&#8220;More generous&#8221; tax credits for TV and film, expanded support for video games industry and new tax credit for orchestras.<\/li>\n<li>Trebling in \u00a315m fund for church roof appeals, and extension to \u00a38,000 in automatic gift aid to benefit 6,500 small charities.<\/li>\n<li>Review on the use of deeds of variation to avoid inheritance tax to report by the autumn.<\/li>\n<li>Charities for British servicemen and women to receive \u00a375m, funded by Libor fines.<\/li>\n<li>Up to \u00a3600m to clear new spectrum bands for further auctions, improving mobile phone coverage nationwide, including in remote communities.<\/li>\n<li>Funding for wifi in public libraries and new national plan for ultra-fast broadband to nearly all homes in the country.<\/li>\n<li>New investment in transport and regeneration across London, and funding to address acute housing shortages in the capital.<\/li>\n<li>Automotive industry to receive \u00a3100m in investment in the race to driverless technology.<\/li>\n<li>North Sea oil industry to receive \u00a31.3bn in support through four new measures.<\/li>\n<li>\u00a31m to buy defibrillators for public places, including schools.<\/li>\n<li>Expanded support for creative industries, including a new tax credit for orchestras.<\/li>\n<li>Consultation on tax support for local newspapers.<\/li>\n<li>Measures on tax avoidance and evasion to raise \u00a33.1 billion over the forecast period.<\/li>\n<li><strong>\u00a0<\/strong>Legislation next week on diverted profits tax aimed at multinationals shifting profits offshore, with policy to take effect at the start of April.<\/li>\n<li>The Office for Budget Responsibility says Britain&#8217;s economy grew by 2.6% last year.<\/li>\n<li>Growth forecast for 2015 revised up by 0.1% to 2.5%, with unemployment set to fall by 0.1% from 5.4% to 5.3%.<\/li>\n<li>OBR\u00a0revises 2015\u00a0inflation forecast down to 0.2%.<\/li>\n<li>Sale of \u00a313bn of mortgage assets held by the Government after the bailout of Northern Rock and Bradford &amp; Bingley is going to be launched. This will be used to pay down the national debt.<\/li>\n<li>Bank levy increased to 0.21%, raising an additional \u00a3900m a year.\u00a0New banking taxes to raise \u00a35.3bn across forecast period.<\/li>\n<li>Farmers will be allowed to average their incomes for tax purposes over five years.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Key Points from todays budget are: Personal tax-free allowance will be increased to \u00a310,800 in April 2016, and to \u00a311,000 in April 2017. Beer duty to be cut for the third year running, with 1p off the price of a pint. Cider duty to be cut by 2%. Duty on scotch whisky and other &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/jsrcharteredaccountants.com\/budget-2015-the-key-points\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Budget 2015  &#8211; The Key Points&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[70,1],"tags":[71],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Budget 2015 - The Key Points - JSR Chartered Accountants<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jsrcharteredaccountants.com\/budget-2015-the-key-points\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget 2015 - The Key Points - JSR Chartered Accountants\" \/>\n<meta property=\"og:description\" content=\"The Key Points from todays budget are: Personal tax-free allowance will be increased to \u00a310,800 in April 2016, and to \u00a311,000 in April 2017. 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