Moving forward to the Budget 2016 and the various consultations in place here are some of the items we expect to see:
- Salary Sacrifice – Further consultation is being sought to assess what action can be taken to combat the rise in use of these arrangements.
- Pension Tax Relief – We expect to see further restrictions on pension tax relief currently £40,000 limit for higher rate relief to be announced.
- ISA Tax Relief in Probate – Expecting to see legislation to allow the ISA tax relief to apply during the estate administration period.
- Loan Relationships – Following new accounting standards being introduced further rules on corporate debt relief are expected.
- Tax Avoidance – Various new measures are expected to penalise those who undertake these schemes.