Global Tax Update:April 2015/United Kingdom
The Chancellor announced his final Budget of this Parliament on 18 March 2015. The Chancellor had the advantage of making the announcement off the back of a range of positive economic indicators – record low inflation, record high employment numbers, and very strong growth forecasts. However, this has to be balanced against a national deficit that has fallen slower than expected, and at the heart of this Budget was a renewed focus on eradicating this deficit. (Global Tax Update:April 2015/United Kingdom)
There will be a General Election on 7 May 2015, and in advance of that the Chancellor’s emphasis in this Budget was on the importance of responsible borrowing against the backdrop of the deficit. That said, there were a range of smaller personal tax measures that, taken together, could be seen as an attempt to appeal to the electorate.
This newsletter explains following topics;
- Business Tax