{"id":305,"date":"2015-04-09T00:00:00","date_gmt":"2015-04-09T00:00:00","guid":{"rendered":"http:\/\/slacc.wpengine.com\/index.php\/the-following-tax-changes-came-into-effect-wednesday-1-april-2015\/"},"modified":"2015-04-09T00:00:00","modified_gmt":"2015-04-09T00:00:00","slug":"the-following-tax-changes-came-into-effect-wednesday-1-april-2015","status":"publish","type":"post","link":"https:\/\/slacc.co.uk\/index.php\/the-following-tax-changes-came-into-effect-wednesday-1-april-2015\/","title":{"rendered":"The following tax changes came into effect Wednesday 1 April 2015"},"content":{"rendered":"<ul>\n<li>\n\t\tThe Corporation Tax rate has been reduced to 20%<\/li>\n<li>\n\t\tThe new Diverted Profits Tax has been introduced<\/li>\n<li>\n\t\tThe bank levy has increased from 0.156% to 0.21%<\/li>\n<li>\n\t\tAir Passenger Duty has been restructured &#8211; abolishing bands C and D<\/li>\n<li>\n\t\tHospice charities, blood bikes, search and rescue, and air ambulance charities will be eligible for VAT refunds<\/li>\n<li>\n\t\tBusiness rates changes (England only):<\/p>\n<ul>\n<li>\n\t\t\t\tThe 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>\n\t\t\t\tThe 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 &pound;6,000, and tapered relief with a rateable value of &pound;6,000 &#8211; &pound;12,000<\/li>\n<li>\n\t\t\t\tThe business rates discount for shops, pubs, cafes and restaurants with a rateable value of &pound;50k or below has increased from &pound;1,000 to &pound;1,500<\/li>\n<\/ul>\n<\/li>\n<li>\n\t\tThe 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%<\/li>\n<li>\n\t\tA new tax relief on the production of children&rsquo;s television has been introduced<\/li>\n<li>\n\t\tThe amount of banks&rsquo; annual profit that can be offset by carried forward losses has been restricted to 50%<\/li>\n<li>\n\t\tTwo new bands for the Annual Tax on Enveloped Dwellings (ATED) have been introduced<\/li>\n<li>\n\t\tCapital Gains Tax exemption for wasting assets will only apply if the corporate selling the asset has used it in their own business<\/li>\n<li>\n\t\tAn investment allowance for North Sea oil and gas, replacing the existing offshore field allowances and simplifying the existing regime, has been introduced<\/li>\n<li>\n\t\tA reduced rate of fuel duty to methanol will apply &#8211; the rate is 9.32 pence per litre<\/li>\n<li>\n\t\tFuels used to generate good quality electricity by CHP (combined heat and power) plants for onsite purposes are exempt from the Carbon Price Floor<\/li>\n<li>\n\t\tClimate Change Levy main rates have increased in line with RPI<\/li>\n<li>\n\t\tThe VAT registration threshold has increased from &pound;81,000 to &pound;82,000 and the deregistration threshold from &pound;79,000 to &pound;80,000<\/li>\n<li>\n\t\tScottish government&rsquo;s Land and Buildings Transactions Tax (LBTT) will replace Stamp Duty Land Tax in Scotland<\/li>\n<li>\n\t\tThe associated companies rules have been replaced with simpler rules based on 51% group membership<\/li>\n<li>\n\t\tThe standard and lower rates of landfill tax have been increased in line with RPI<\/li>\n<\/ul>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>The Corporation Tax rate has been reduced to 20% The new Diverted Profits Tax has been introduced The bank levy has increased from 0.156% to 0.21% Air Passenger Duty has been restructured &#8211; abolishing bands C and D Hospice charities, blood bikes, search and rescue, and air ambulance charities will be eligible for VAT refunds [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-305","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=305"}],"version-history":[{"count":0,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/305\/revisions"}],"wp:attachment":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}