Real time collection of tax on benefits in kind: voluntary payrolling

Measures will be introduced to extend the voluntary payrolling framework to allow employers to account for tax on non-cash vouchers and credit tokens in real time from 6 April 2017.

Apprenticeship levy

As announced at the Autumn Statement 2015, an apprenticeship levy will be introduced in April 2017. It was announced in the Budget that from April 2017, employers will receive a 10% top-up to their monthly levy contributions in England and this will be available for them to spend on apprenticeship training through their digital account.

Business rates

Following the business rates review, the Government has announced that from 1 April 2017 it will permanently double Small Business Rate Relief in England from 50% to 100%. It will also increase the thresholds so that businesses with a property with a rateable value of £12,000 and below will receive 100% relief, while businesses with a property with a rateable value between £12,000 and £15,000 will receive tapered relief.

Museums and galleries tax relief

A new tax relief for museums and galleries will be introduced from 1 April 2017 following a consultation over Summer 2016. The relief will be available for temporary and touring exhibition costs.

Soft drinks industry levy

A new soft drinks industry levy will be introduced, to be paid by producers and importers of soft drinks that contain added sugar. The levy will be charged on volumes according to total sugar content, with a main rate charge for drinks containing above five grams of sugar per 100 millilitres and a higher rate for drinks with more than eight grams of sugar per 100 millilitres. There will be an exclusion for small operators. Following consultation, legislation will be introduced in Finance Bill 2017 and implemented from April 2018.

Insurance Premium Tax (IPT)

The standard rate of IPT will be increased from 9.5% to 10% with effect from 1 October 2016.

Petroleum Revenue Tax

The Government will permanently reduce the rate of Petroleum Revenue Tax from 35% to 0%, taking effect for chargeable periods ending after 31 December 2015.