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ARCHIVED: This Practice Note has been archived and is not maintained.

This Practice Note contains information on Finance Act 2015 (FA 2015) which received Royal assent on 26 March 2015. It is being retained for historic interest as it charts the progress of the legislation through Parliament and provides a description, with relevant links, of each measure in the Act.

The Practice Note is split into five parts:

1. •

   Progress of FA 2015

2. •

   published legislation with immediate effect—Budget 2015

3. •

   published legislation with immediate effect—Autumn Statement 2014

4. •

   published legislation with subsequent effect, and

5. •

   awaiting draft legislation

A number of measures which were stated in Budget 2015 as being intended for FA 2015 were deferred until after the general election. The deferred clauses include:

1. •

   the new statutory exemption from income tax for trivial benefits in kind, implementing a recommendation of the Office of Tax Simplification (OTS) from its review of employee benefits and expenses (announced at Budget 2014)

2. •

   simplifying link company requirements for consortium relief claims (announced Autumn Statement 2014) (see: Finance