HIGHLIGHTS

摘要

Reform of stamp duty land tax (SDLT) to replace current slab system on the whole transaction value with progressive bands, effective from 4 December 2015. The new rates are payable on the share of the price falling within each band: up to £125,000,0%; £125-£250k, 2%; £250-£925k, 5%; £925k-£1.5m, 10%; and over £1.5m, 12%. The annual charges on the Annual Tax on Enveloped Dwellings (ATED) will increase by 50% above inflation for residential properties worth more than £2m for the chargeable period 1 April 2015 to 31 March 2016. From April 2015 the income tax personal allowance, which was set to rise to £10,500, will rise instead to £10,600. The basic rate limit will be £31,785 so the higher rate threshold above which individuals pay income tax at 40% will increase to £42,385.