Individuals will not be able to claim ER on disposals of goodwill
on a transfer of a business to a related close company from
3 December 2014, as previously announced.
The government will review the ER treatment of academics who
dispose of shares in spin-out companies that use intellectual
property to which they have contributed.
Private residence relief will be restricted where a property is
located in a jurisdiction in which a taxpayer is not tax resident.
In these circumstances the property will only be regarded as
the person’s only or main residence for a tax year in which the
person meets a 90-day test for time spent in the property over
Non-UK resident individuals, trusts, personal representatives
and narrowly controlled companies will become subject to tax
on gains on the disposal of UK residential property after 5 April
Capital gains tax wasting assets
Legislation will clarify that the capital gains exemption for
wasting assets only applies if the person selling the asset has used
it in their own business. The change will take effect from 1 April
2015 for corporation tax and 6 April 2015 for capital gains tax.
Inheritance tax (IHT) threshold
The IHT threshold remains at £325,000 for 2015/16.
Deeds of variation
The government will review the use of deeds of
variation for inheritance tax planning.
Inheritance tax and trusts
New rules will target tax avoidance
through the use of multiple trusts.
As announced in the Autumn
Statement 2014, the government will
not introduce a single settlement nil-rate band.
18 March 2015