Finance Act 2015 – new tax reliefs

OTS stand

Now that the 2015 Finance Act has been passed, we’ve updated our master list of tax reliefs. One relief has been abolished – the £8,500 benefits threshold. But seventeen new reliefs have been added, bringing the grand total to 1,156.

OTS list of tax reliefs updated to March 2015

 

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2 thoughts on “Finance Act 2015 – new tax reliefs

  1. DW

    Thanks for trying to make system simpler so that people and smaller companies have less worry with their yearly tax return. Apparently, the UK tax code is 21000 pages long. The shortest tax code is Hong Kong’s at only 300 pages, or seventy times smaller than the UK’s!

    Do you any thoughts about scrapping or simplifying capital gains tax? Scrapping it would help encourage investment, enterprise and liquidity. But even simplifying CGT massively (cutting out loop-holes, exceptions, arbitrary rules, and different allowance types) would really help people who just want to be honest and save time. Such an action may even increase revenue for the government as a result.

    Reply

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