The Conservative Party’s outright victory in the 2015 General Election came as a surprise to many political commentators and tax advisers alike. Whilst in many ways it means there will likely be a continuation of the last Parliament’s perceived business-friendly tax policies, there were a few surprises sprung in the summer budget that followed the election result.
The summer budget was not actually announced until early in July. Whilst it included the announcement of further reductions in the (already relatively low) UK corporation tax rate and a (broadly welcomed) change to the UK tax treatment of dividends received by individuals, there were also measures announced on the tax treatment of investment managers that caused some concern within the industry.
Our blog on the summer budget, can be found here.