Guide to Budget 2016

Budget 2016 key details and summary

Following a year in which the Chancellor had a pre-election Budget in March, a surprise summer Budget in July and an Autumn Statement in November, on 16 March the Chancellor delivered his first Budget of 2016.

Here is our Budget 2016 summary and analysis of the key points and developments.

Please see the links further down this page for our detailed Budget 2016 sector analysis.

Main Budget tax proposals

Our summary concentrates on the tax measures which include:

  • Reductions in the rates of capital gains tax
  • Introduction of a Lifetime ISA for under 40s
  • Changes to Entrepreneurs’ Relief
  • Abolition of Class 2 NIC
  • Reduction in the corporation tax rate
  • Reforms to corporate tax losses.
Budget 2016 Summary
Tax rates 2016/17

For more information on the impact on Budget 2016

If you wish to speak to one of our specialist tax team about Budget 2016 and what the changes may mean for you and your business, please get in touch. To book your free initial meeting, please make contact with your nearest office.

We look forward to hearing from you!

Free initial meeting

Stephen Charles

Tax Partner, Sheffield

Paul Wormald

Partner, Doncaster

David Cairns

Tax Partner, Northampton