July 2015 Budget

Previous page

The budget on the 8th July has the potential to be intriguing. This is the first time that George Osborne will not have to take account of the views of the Liberals Democrats.

It is being reported there may be proposals to have a transferable allowance of £175000.00 per person for main residences when they are passed to beneficiaries. This gives couples a potential allowance of £1 million (the current £325000.00 nil rate band plus £175000.00 each) This new allowance is to be tapered away from those leaving more than £2m

Any proposals announced in the budget will become law probably very quickly as Parliament will recess on the 21st July and so Royal Assent of the Finance Act will need to be before that.