George Osborne presented the first Spring Budget of this Parliament on Wednesday 16th March 2016.
In his speech the Chancellor reported on ‘an economy set to grow faster than any other major advanced economy in the world’.
Our summary concentrates on the tax measures which include:
- reductions in the rates of capital gains tax
- introduction of a Lifetime ISA for under 40s
- changes to Entrepreneurs’ Relief
- abolition of Class 2 NIC
- reduction in the corporation tax rate
- reforms to corporate tax losses.
Click below to read the Rawcliffe & Co Budget Summary.