Tax rate cards

The 2015 Budget announced by Chancellor George Osborne contains some important measures dealing directly with tax administration. There is a lot to know and understand about the budget, including the various tax rates businesses are subject to. We give you a head start on the 2015/2016 budget year with our free, downloadable tax rate cards. We offer cards for other tax years to account for the various tax reporting practices of different kinds of businesses. Do not hesitate to contact your accountant if you have questions about the tax rates.

Budget Statement

The 2015 Budget Statement was the final statement for the Conservative-Liberal Democrat coalition government. In his speech, Chancellor Osborne spoke of how the UK economy has grown faster than any other economy in the world since the implementation of the emergency budget some five years ago. He further talked about plans that include tax renewals and administration. However, much of what Osborne spoke about will not be implemented until a later date.

Things we will be paying attention to here at ICP include:

• the new tax-free Personal Savings Allowance
• proposed changes to encourage ISA investment
• digital self-assessment tax return system planned for 2016
• proposed increases in personal allowances
• proposed changes to qualifying conditions for Entrepreneurs' Relief.

Chancellor Osborne's Budget Statement was encouraging on multiple levels. For the contractor, it offers the promise of an even stronger economy and more earning potential. ICP is here to help you make the most of the next tax year through our flat-rate accountancy services and specialised online software. We hope you will take advantage of our downloadable tax rate cards as well.