Budget 2016 – other announcements
Chancellor George Osborne delivered his Budget statement to the House of Commons on Wednesday 16 March 2016.
Here’s our summary of some of the highlights from his speech:
- Capital gains tax will reduce from 28% to 20% from April 2016. The rate for basic rate taxpayers will fall from 18% to 10%.
- Insurance premium tax will increase by half a percentage point.
- There will be investment in rail and road projects across the country.
- Stamp duty rates on additional properties which come into effect next month will also apply to large investors.