The Commons Treasury Committee has published its report on the Autumn Statement 2015. Specific concerns expressed in the report included the following.
· The ‘tax lock’, combined with the chancellor’s commitment to a ‘lower tax society’ is leading the government to find additional tax revenues in sometimes less transparent ways, such as the apprenticeship levy, SDLT surcharge, increases to IPT and dividend taxation.
· The new SDLT surcharge on additional properties from April 2016, aimed at curbing buy-to-let investment, might harm the private rented sector, creating a shortage of homes to rent.
· Changes to the OBR’s modelling and assumptions underpinned improvements in the chancellor’s fiscal outlook, producing an apparent windfall of £27 billion, but the OBR may in future make alterations that are unfavourable to the public finances.
The Commons Treasury Committee has published its report on the Autumn Statement 2015. Specific concerns expressed in the report included the following.
· The ‘tax lock’, combined with the chancellor’s commitment to a ‘lower tax society’ is leading the government to find additional tax revenues in sometimes less transparent ways, such as the apprenticeship levy, SDLT surcharge, increases to IPT and dividend taxation.
· The new SDLT surcharge on additional properties from April 2016, aimed at curbing buy-to-let investment, might harm the private rented sector, creating a shortage of homes to rent.
· Changes to the OBR’s modelling and assumptions underpinned improvements in the chancellor’s fiscal outlook, producing an apparent windfall of £27 billion, but the OBR may in future make alterations that are unfavourable to the public finances.
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