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Tinker, tailor

Lucy Brennan dissects some of the more eye-catching parts of George Osborne's 2015 budget

24 April 2015

The latest budget contained some clever new measures and did a good job of grabbing newspaper column inches. While there were some giveaways, they were not as generous as some might have expected just before a general election, or indeed as suggested by some of the headlines. For those working in the private client world, there were only a handful of surprises.

'Death of the tax return'

For the professional adviser community, perhaps the most significant new measure is the expansion of real-time reporting to HMRC. This will do away with the need for annual tax returns
for millions across the country, but not for all.

The system is expected to be phased in from 2016, when individual tax-payers will be given digital tax accounts. HMRC

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