Media & Events

Summer Budget Analysis: July 2015

Taxation briefing summer budget 2015
July 2015

In the UK's 2015 Summer Budget, the Chancellor announced a number of measures affecting the taxation of both individuals and businesses.

We have prepared a round-up of the announcements, which included:

  • A new £175,000 main residence nil rate band for inheritance tax.
  • Restriction of tax relief on mortgage interest payments for buy-to-let landlords.
  • Major changes to the taxation of dividend income.
  • A reduction in the rate of corporation tax to 19% in 2017 and 18% in 2020.
  • The Annual Investment Allowance being fixed at £200,000 from 1 January 2016.
  • Restrictions on pension contributions for those earning over £150,000.

You may also be interested in reading our briefing on the changes for non-domiciled individuals.