The Autumn Statement for 2015 was delivered on Wednesday 25 November 2015. The documents are all over the place on the GOV.UK site – as usual. I have organised them in a way that I hope will make them easier to access from the Tax Notes Autumn Statement 2015 page.
In two days time we have another Autumn Statement to look forward to. Splendid. More paper to be printed out. And don’t forget that the following week they publish the draft legislation. Even more paper.
So, who’s betting that a number of provisions from our Summer Budget – which have just reached the statute books – are going to be drastically amended or abolished in two days time?
Don’t believe me? Remember ITA 2007 anyone? Passed just before Budget 2007, and within weeks they were making amendments to the partnership rules…
Can you believe it? We’ve just had an unnecessary Summer Budget (emergency my….) and now we’re told that we have a nice Autumn Statement to look forward to.
No doubt we will be hearing all sorts of predictions from the tax and non-tax pundits. Who knows, maybe they’ll finally get rid of entrepreneurs’ relief as was predicted last time…
What fun this is going to be. Everyone else will be enjoying the tennis, while we hard working, dedicated tax people will be spending the day staring at that GOV.UK page.
My article on the new rules for VCTs – Venture Capital Trusts – have they become riskier? – has been published by online magazine Which Investment Trust. Hooray!
It always gives me special pleasure to see one of my articles published by someone else, rather than just on my own site. It means that someone else actually likes my articles enough to consider them worth publishing!
And I must say at this point that it is a real pleasure also to be working with Dice McCairn, the editor of Which Investment Trust. Dice contacted me via the Tax Notes Contact page and suggested I contribute to his site. I have found him to be very professional and efficient, always returning my emails promptly – a real Godsend compared to some of the editors I have worked with in the past.
Oh goody. That’s just what we need. I was dreading the prospect of an emergency Budget which has become a habit following the last few general elections. No sooner have we digested one Budget and got used to the new rules, we’re faced with another, just because a new government wants to put its stamp on the economy as soon as they’ve got into power.
But, the BBC has reported that George Osborne wants another piece of prime time TV, so that’s the way it must be. (This is the official confirmation from the awful GOV.UK site, my thanks to Rebecca Cave for pointing it out to me on twitter).
I would like to take the opportunity of the first post of 2015 to wish my readers a Happy New Year and a big thank you for your support in reading the articles on this site.
In particular I would like to say a special thank you to Alain Thielemans and Malgorzata Gergelewicz, co-founders of International Tax Plaza, for their strong support over the last year. Alain, Malgorzata and I met via linkedin and our friendship started when Alain wrote to me to say how much they enjoyed reading my articles.
No need to panic. It isn’t all of them, just three.
HMRC “would like to gather evidence from those who have relevant data about the potential impact of withdrawing the following three ESCs”:
- Employment Income Manual 03002 – Professional remuneration (Income Tax)
- Sports Testimonials (Income Tax)
- D45 Capital Gains Tax: roll-over into depreciating assets (Capital Gains Tax)
The Consultation Paper can be found here, together with details of how to respond. The consultation period ends on 8 January 2015 at 11:45 pm (is anyone going to be in the building to sign for a registered delivery at that time?)
International Tax Plaza is the “go-to” site for anyone interested in international tax. It is useful for both students and practitioners alike, and is an ideal starting place for anyone who needs to research a problem with a foreign element.
HMRC has a useful page which lists all the links to the various online tools available to calculate your tax liability.
The list is very comprehensive, including income tax, PAYE and national insurance contributions, company car and fuel benefit, a corporation tax reference checker, inheritance tax, pensions, VAT and SDLT calculators.
If you click on a link, the site will take you to the relevant online tool. Very useful indeed.