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Scotland's finance secretary, John Swinney, ruled out any increase in income tax rates for Scottish taxpayers
Savings Directive 2003/48/EC on information exchange on private savings income.
New fuel rates for company cars.
Scottish rate of income tax (SRIT) will be introduced from 6 April 2016.
Tax relief for social investments.
Review of income tax and National Insurance
New personal saving allowance. All saving income to be paid without deduction of tax at source.
Employers will no longer need to apply for a dispensation or report those expenses on form P11D.
Employers and taxpayers need to know exactly who will be affected and how, according to CIOT.
Merger of income tax with National Insurance “must not be a revenue raiser”
The tax and National Insurance (NI) treatment of professional sportspeople’s income from testimonials and benefit matches is to be put on a firm legislative basis.
The government move comes as the result of HMRC view that the handling of such income does not reflect the statutory position.
A technical note and call for evidence issued in October proposed that the Revenue rewrite its guidance on the treatment of testimonial and benefit games.
The annual end-of-year reconciliation for PAYE taxpayers has begun, to check that people have paid the right amount of tax in 2014/15. HMRC expect the process to be completed by October.
Tax calculations – P800s – will be issued, and people due a repayment will receive a cheque about two weeks after the calculation, according to the Revenue.
The Low Incomes Tax Reform Group (LITRG) has reissued its guidance on what taxpayers should do if they receive a P800. The information includes explanations on how a person may be able to reduce a tax bill or have it set aside.
