{"id":56192,"date":"2015-04-01T09:56:44","date_gmt":"2015-04-01T09:56:44","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=84402f4234534d7ba6a2dea27daf7524"},"modified":"2015-04-01T09:56:44","modified_gmt":"2015-04-01T09:56:44","slug":"news-story-tax-changes-coming-into-effect-1-april-2015","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=56192","title":{"rendered":"News story: Tax changes coming into effect 1 April 2015"},"content":{"rendered":"<div class=\"govspeak\">\n<ul>\n<li>\n<p>The Corporation Tax rate has been reduced to 20% <\/p>\n<\/li>\n<li>\n<p>The new Diverted Profits Tax has been introduced<\/p>\n<\/li>\n<li>\n<p>The bank levy has increased from 0.156% to 0.21%<\/p>\n<\/li>\n<li>\n<p>Air Passenger Duty has been restructured &#8211; abolishing bands C and D<\/p>\n<\/li>\n<li>\n<p>Hospice charities, blood bikes, search and rescue, and air ambulance charities will be eligible for VAT refunds<\/p>\n<\/li>\n<li>Business rates changes (England only):\n<ul>\n<li>The business rates multiplier has increased from 48.2p to 49.3p (47.1p to 48.0p for small business multiplier). This includes the 2% inflation cap<\/li>\n<li>The Small Business Rate Relief scheme has doubled for a further year &#8211; providing 100% relief for businesses with a single property with a rateable value of less than \u00a36,000, and tapered relief with a rateable value of \u00a36,000 &#8211; \u00a312,000<\/li>\n<li>The business rates discount for shops, pubs, cafes and restaurants with a rateable value of \u00a350k or below has increased from \u00a31,000 to \u00a31,500<\/li>\n<\/ul>\n<\/li>\n<li>\n<p>The cultural test for high-end TV tax relief has been modernised and the minimum UK expenditure requirement for all TV tax reliefs has reduced from 25% to 10%<\/p>\n<\/li>\n<li>\n<p>A new tax relief on the production of children\u2019s television has been introduced<\/p>\n<\/li>\n<li>\n<p>The amount of banks\u2019 annual profit that can be offset by carried forward losses has been restricted to 50%<\/p>\n<\/li>\n<li>\n<p>Two new bands for the Annual Tax on Enveloped Dwellings (ATED) have been introduced<\/p>\n<\/li>\n<li>\n<p>Capital Gains Tax exemption for wasting assets will only apply if the corporate selling the asset has used it in their own business<\/p>\n<\/li>\n<li>\n<p>An investment allowance for North Sea oil and gas, replacing the existing offshore field allowances and simplifying the existing regime, has been introduced <\/p>\n<\/li>\n<li>\n<p>A reduced rate of fuel duty to methanol will apply &#8211; the rate is 9.32 pence per litre<\/p>\n<\/li>\n<li>\n<p>Fuels used to generate good quality electricity by CHP (combined heat and power) plants for onsite purposes are exempt from the Carbon Price Floor<\/p>\n<\/li>\n<li>\n<p>Climate Change Levy main rates have increased in line with RPI<\/p>\n<\/li>\n<li>\n<p>The VAT registration threshold has increased from \u00a381,000 to \u00a382,000 and the deregistration threshold from \u00a379,000 to \u00a380,000<\/p>\n<\/li>\n<li>\n<p>Scottish government\u2019s Land and Buildings Transactions Tax (LBTT) will replace Stamp Duty Land Tax in Scotland<\/p>\n<\/li>\n<li>\n<p>The associated companies rules have been replaced with simpler rules based on 51% group membership<\/p>\n<\/li>\n<li>The standard and lower rates of landfill tax have been increased in line with RPI<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The following tax changes come into effect today (Wednesday 1 April 2015):<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/56192"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56192"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/56192\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}