 | |
|
|
| Annual Investment Allowance |
| The Chancellor recognised the importance of the Annual Investment Allowance which currently stands at £500,000 but was due to reduce in January 2016 to just £25,000. He has made a commitment to review this in the Autumn Statement with a view to maintaining it at a significant level above £25,000. We would welcome this change as we have seen at first-hand how important this has been, particularly for our small business clients. |
| |
| Enterprise Zones |
The number of Enterprise Zones is to be increased to build on the 12,500 jobs and £2bn of private investment already created by this initiative. One criticism of the existing zones had been the lack of Enhanced Capital Allowances available in a number of them. This has been partly addressed by the redesignation of two existing sites in Leeds which will now include Enhanced Capital Allowances.
| |
| Enhanced Capital Allowances |
The list of designated energy saving and water efficient technologies qualifying for Enhanced Capital Allowances is due to be updated during the summer. Whilst there are no details available of the specific changes, the Government forecast that it will generate an extra £40m of tax savings over the next 5 years.
| |
|
| Aggregates Levy |
Aggregates Levy has been frozen at £2 for 2015-2016 before reverting to
the planned inflationary increases.
| |
| Landfill Tax |
The Chancellor confirmed that rates of Landfill Tax will continue to increase in accordance with RPI for the foreseeable future. Rates for 2015-16 are £82.60/t for the Standard Rate and £2.60/t for the Lower Rate.
| |
| Housing Zones |
The Government announced that it would be introducing the first 20 housing zones outside London and will continue to work with eight other zones to deliver 45,000 new homes.
| |
|
| Church Roof Repairs |
The Listed Places of Worship Roof Repair Fund will be increased by £40m to support vital roof repairs over the next two years.
| |
| Corporation Tax |
| The Chancellor confirmed that the main Corporation Tax rate will reduce to 20% from April 2015. | | | | | | |
VAT |
| After a number of changes affecting property over the last few years no related new measures were introduced this time around. The VAT registration threshold increased from £81,000 up to £82,000. |
| |
| |
| | |
