Collection

Summer Budget 2015: HM Revenue and Customs

All HM Revenue and Customs (HMRC) tax related documents and other announcements for Summer Budget 2015.

• From: HM Revenue & Customs
• Published: 12 June 2015
• Last updated: 16 July 2015 — See all updates

The Chancellor of the Exchequer delivered his Summer Budget to Parliament on 8 July 2015. Full details of all announcements, supporting documents and information are available from the Summer Budget 2015 page.

HMRC Budget related documents and other announcements for Summer Budget 2015 are available below.

Overview of Tax Legislation and Rates (OOTLAR). This document lists the tax policy measures announced at Summer Budget 2015 and shows when they will be legislated. It also includes all of the Tax Information and Impact Notes (TIINs) and the rates tables. It is intended for tax practitioners and others with an interest in tax policy changes, especially those who will be involved in consultations both on the policy and on draft legislation.

The Summer Finance Bill 2015 will be published on 15 July 2015. You can find supporting and related documents at Summer Finance Bill 2015.

HMRC overview of main Budget announcements

This overview summarises the main new Budget announcements which affect HMRC customers. More information can be found in the main Summer Budget documents.

• Summer Budget 2015: HM Revenue and Customs overview
  • 8 July 2015
  • Guidance

Tax Information and Impact Notes (TIINs)

The following TIINs have been published and they can also be found in OOTLAR.

• 2015 London Anniversary Games
  • 8 July 2015
  • Policy paper
• Aggregates Levy: reinstatement of exemptions
  • 8 July 2015
  • Policy paper
• Annual Investment Allowance: permanent increase to £200,000
  • 8 July 2015
  • Policy paper
• Bank Corporation Tax surcharge
  • 8 July 2015
  • Policy paper
• Bank Levy: rate reduction
  • 8 July 2015
  • Policy paper
• Capital gains tax treatment of carried interest
  • 8 July 2015
  • Policy paper
• Controlled foreign companies: loss restriction
  • 8 July 2015
  • Policy paper
• Corporation Tax: extending carried forward loss allowance to savings banks established under the Savings Bank (Scotland) Act 1819
  • 8 July 2015
  • Policy paper
• Corporation Tax: main rate
  • 8 July 2015
  • Policy paper
• Corporation Tax: modernisation of the taxation of corporate debt and derivative contracts
  • 8 July 2015
  • Policy paper
• Corporation Tax: R&D tax credits - universities and charities
  • 8 July 2015
  • Policy paper
• Corporation Tax: simplifying link company requirements for consortium claims July 2015
  • 8 July 2015
  • Policy paper
• Disposal of stock other than in trade, and corporate intangibles
  • 8 July 2015
  • Policy paper
• Income Tax: amendments to tax-advantaged venture capital schemes
  • 8 July 2015
  • Policy paper
• Income Tax: personal allowance and basic rate limit for 2016 to 2017
  • 8 July 2015
  • Policy paper
• Income Tax: personal allowance indexation
  • 8 July 2015
  • Policy paper
• Inheritance Tax: main residence nil-rate band and the existing nil-rate band
  • 12 June 2017
  • Policy paper
• Inheritance Tax: simplifying charges on trusts and new rules to target avoidance through the use of multiple trusts July 2015
  • 8 July 2015
  • Policy paper
• Inheritance Tax: changes to interest to support the new digital service
  • 8 July 2015
  • Policy paper
• Pensions tapered annual allowance
  • 8 July 2015
  • Policy paper
• Restricting finance cost relief for individual landlords
  • 6 February 2017
  • Policy paper
• Restriction of corporation tax relief for business goodwill amortisation
  • 8 July 2015
  • Policy paper
• Restricting tax relief for banks' compensation payments
  • 8 July 2015
  • Policy paper
• Rent a Room relief increase
  • 8 July 2015
  • Policy paper
• Simplification of HMRC debtor and creditor interest rate
  • 8 July 2015
  • Policy paper
• Tackling offshore evasion: requiring financial intermediaries and tax advisers to notify their customers
  • 8 July 2015
  • Policy paper
• Tax exemption for travel expenses of members of local authorities July 2015
  • 8 July 2015
  • Policy paper
• Tax lock: Income Tax, National Insurance contributions and VAT
  • 8 July 2015
  • Policy paper
• Taxation of lump sum death benefits
  • 8 July 2015
  • Policy paper
• Updating bank definitions
  • 8 July 2015
  • Policy paper
• Vehicle Excise Duty
  • 8 July 2015
  • Policy paper

HMRC and HM Treasury consultation and response to consultation

All of the consultation and discussion documents issued by both HMT and HMRC between Summer Budget and Parliament Summer Recess on 21 July 2015 will appear in the list below.

• Simplification of the tax and National Insurance treatment of termination payments
  • 10 August 2016
  • Consultation outcome
• Tackling the hidden economy: Extension of data-gathering powers
  • 9 December 2015
  • Consultation outcome
• Consultation: proposal to use a Legislative Reform Order to change partnership legislation on collective investment schemes
  • 24 March 2016
  • Consultation outcome
• Statistical consultation: possibility of ceasing publication of HMRC's Personal Wealth National Statistics
  • 9 August 2016
  • Consultation outcome
• Strengthening sanctions for tax avoidance - a consultation on detailed proposals
  • 9 December 2015
  • Consultation outcome
• Improving large business tax compliance
  • 9 December 2015
  • Consultation outcome
• Future of the tariff classification helpline
  • 20 July 2015
  • Consultation outcome
• Withdrawal of extra-statutory concessions
  • 20 July 2015
  • Consultation outcome
• Replacing Wear and Tear Allowance with Tax Relief for Replacing Furnishings in Let Residential Dwelling-Houses
  • 9 December 2015
  • Consultation outcome
• Intermediaries Legislation (IR35): discussion document
  • 17 July 2015
  • Consultation outcome
• Non-UK domiciled individuals: consultation on a minimum claim period for the remittance basis charge
  • 17 July 2015
  • Consultation outcome
• Tackling offshore evasion
  • 9 December 2015
  • Consultation outcome
• Call for evidence: simplifying the Gift Aid donor benefit rules
  • 6 August 2018
  • Call for evidence outcome
• The Taxation of Regulatory Capital Securities (Amendment) Regulations 2015
  • 16 July 2015
  • Consultation outcome
• Deduction of income tax from interest: peer-to-peer lending
  • 15 July 2015
  • Consultation outcome
• Deduction of income tax from savings income: implementation of the Personal Savings Allowance
  • 9 December 2015
  • Consultation outcome
• Review of Deeds of Variation for tax purposes: call for evidence
  • 9 December 2015
  • Call for evidence outcome
• Tackling illicit tobacco: From leaf to light
  • 15 July 2015
  • Policy paper
• Draft legislation: the Enforcement by Deduction from Accounts (Information) Regulations 2015
  • 15 July 2015
  • Policy paper
• Draft legislation: review of employee benefits and expenses
  • 8 July 2015
  • Policy paper
• Employment Intermediaries and Tax Relief for Travel and Subsistence
  • 9 December 2015
  • Consultation outcome
• Income Tax: Extension of averaging period for farmers
  • 9 December 2015
  • Consultation outcome
• ISA qualifying investments: consultation on including peer-to-peer loans
  • 8 July 2015
  • Consultation outcome
• ISA qualifying investments: consultation on whether to include investment based crowdfunding
  • 25 November 2015
  • Consultation outcome
• Strengthening the incentive to save: consultation on pensions tax relief
  • 16 March 2016
  • Consultation outcome
• Tax-advantaged venture capital schemes: draft legislation and explanatory notes
  • 8 July 2015
  • Consultation outcome
• Tax Treatment of Income from Sporting Testimonials – Proposals for Legislation
  • 9 December 2015
  • Consultation outcome
• Taxation of performance linked rewards paid to asset managers
  • 9 December 2015
  • Consultation outcome
• Discussion paper on options for supporting English regional airports from the impacts of air passenger duty devolution
  • 9 December 2016
  • Policy paper

Other HMRC budget documents

• Dividend Allowance - factsheet
  • 17 August 2015
  • Policy paper
• Technical briefing on foreign domiciled persons changes announced at Summer Budget 2015
  • 8 July 2015
  • Guidance
• Technical briefing on foreign domiciled persons/Inheritance Tax residential property changes
  • 8 July 2015
  • Guidance
• Pensions technical note: transitional provisions for aligning pension input periods
  • 8 July 2015
  • Guidance
• Inheritance Tax on main residence nil-rate band and downsizing proposals: technical note
  • 7 October 2015
  • Guidance

Budget measures effective from 8 July 2015

• Investment managers: Capital Gains Tax treatment of carried interest (July 2015)
  • 20 July 2015
  • Guidance
• Capital gains tax treatment of carried interest
  • 8 July 2015
  • Policy paper
• Controlled foreign companies: loss restriction
  • 8 July 2015
  • Policy paper
• Disposal of stock other than in trade, and corporate intangibles
  • 8 July 2015
  • Policy paper
• Pensions tapered annual allowance
  • 8 July 2015
  • Policy paper
• Pensions technical note: transitional provisions for aligning pension input periods
  • 8 July 2015
  • Guidance
• Restricting tax relief for banks' compensation payments
  • 8 July 2015
  • Policy paper
• Restriction of corporation tax relief for business goodwill amortisation
  • 8 July 2015
  • Policy paper
• Simplification of HMRC debtor and creditor interest rate
  • 8 July 2015
  • Policy paper

Published 12 June 2015
Last updated 16 July 2015 + show all updates

1. 16 July 2015

   New consultation document on The Taxation of Regulatory Capital Securities (Amendment) Regulations 2015 added.

2. 8 July 2015

   Overview of tax legislation and rates and Summer Finance Bill 2015: measures with immediate effect included

3. 8 July 2015

   HMRC Summer Budget 2015 documents have been added to this page.

4. 12 June 2015

   First published.