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Well, after much excitement and speculation, the Chancellor finally delivered his second budget of 2015 to parliament yesterday; the second in just four months.
This was George Osborne’s opportunity to bring in some of the proposals from the Conservative manifesto that couldn’t happen under the coalition government. To find out just how far-reaching some of the policy changes are, we have prepared a Budget Summary for you, outlining all the key areas and main announcements.
The Government must be relishing its announcement in the Summer Budget on 8thJuly, designed to simplify dividend taxation and bring the treasury an additional revenue of £2.5bn per year. Yet the Chancellor said that 85% of those who receive dividends will see no change, or be better off. So where is this additional revenue going to come from? How will savers be impacted, and in particular business owners, who depend largely on dividends for their income?