Details

  • Service: Tax, Tax & Legal Services, Corporate Tax
  • Industry: New Markets, United Kingdom
  • Type: Business and industry issue, KPMG information
  • Date: 19/03/2014

UK Budget 2014 

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KPMG analysis of UK Budget 2014

How will UK Budget 2014 affect you and your business?

 

UK Budget 2014 Taxing Times 

 

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Taxing Times, our guide to UK Budget 2014 (PDF, 989KB)

 

The personal tax highlights are:

 

  • Personal allowance will rise to £10,500 in 2015/16
  • Higher rate threshold will change to £31,785 in 2015/2016
  • Starting rate of income tax savings will be 0%
  • Pension savings will become more accessible
  • ISA limits will rise to £15,000 per annum

 

The key points for business are:

 

  • The annual investment allowance will change to £500,000
  • Extension of EZA enhanced capital allowances
  • Extension of Seed EIS Scheme
  • New anti-avoidance rules will apply to partnerships
  • Users of tax avoidance schemes must pay tax up front
 

UK Budget contact

eamonn donaghy, head of tax, belfast

Eamonn Donaghy

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Partner & Head of Tax, Belfast

eamonn.donaghy@kpmg.ie

+44 289 089 3839

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Tax & Legal

KPMG’s all-Ireland Tax practice provides the latest Irish and UK technical advice from professionals with a focused specialism relevant to your business.

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