Osborne to unveil Budget 2015 on March 18th

George Osborne has announced that he will deliver his sixth and potentially final Budget on March 18th 2015, just seven weeks before the UK goes to the polls.

The chancellor used an appearance before the Treasury Select Committee to disclose the date, which falls less than two months before the general election on May 5th.

But he dampened the prospect of any politically-motivated tax cuts -- at least unfunded ones or those which will fall outside his 2015-16 spending plans, which are set already.

In fact, of Budget 2015, Mr Osborne told the committee: “Anyone expecting unaffordable pre-election giveaways will be disappointed because we will stay on course to prosperity.”

The Budget’s red book, to be published alongside Mr Osborne’ speech, will contain both an update on the economy using fresh forecasts and the details of any new tax announcements.

This year’s Budget is also when the government has said it would unveil “possible action” against umbrella companies, which have been given until February 10th to reply to a consultation.

By then, there should also be clarity for limited company contractors who are currently awaiting the overdue publication of a review into IR35 and its non-statutory reforms of 2012.

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Written by Simon Moore

Simon writes impartial news and engaging features for the contractor industry, covering, IR35, the loan charge and general tax and legislation.
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