Tolley’s Yellow and Orange Handbook Supplement 2015-16 is a standalone volume to update and complement the Yellow and Orange Tax Handbooks with changes in the Finance (no 2) Act 2015.
This edition includes extracts of Finance (No 2) Act 2015 is expected to include provisions on, inter alia:-
- tax and VAT lock
- personal allowance and NMW alignment
- CT rate reduction to 18% from 2020 (phased)
- permanent £200k annual investment allowance
- IHT additional nil-rate band for family home (phased between 2017 and 2020) to achieve max £500k band, with surviving spouse transfer
- bank surcharge and disallowance of compensation payments
- further pensions and venture capital changes
- loan relationships and derivative contracts – vast modernisation package (for APs starting on/after 1 Jan 2016)
- new vehicle excise duty structure
- direct recovery of tax debts from bank accounts