2015 BUDGET – KEY TOURISM POINTS
Following the announcement of the recent budget we thought the below summary of key tourism points would be helpful:
Regional Tourism Funding
- To support tourism in the North East, the government welcomes talks to reinstate the ferry from Norway to Newcastle and will provide funding to market the North East to help bring more visitors from Scandinavia.
- The government confirms that £8.98 million funding was announced for culture, tourism and spending, investments as part of the government’s regional long-term economic plans
- The Government will make it easier for individuals to sub-let a room through its intention to legislate to prevent the use of clauses in private fixed-term residential tenancy agreements that expressly rule out sub-letting or otherwise sharing space on a short-term basis, and consider extending this prohibition to statutory periodic tenancies
- Beer Duty cut by 1p for the third year in a row
- There will be a 2% reduction in Duty for Cider and Spirits
- The amount of small donations charities can get an extra 25% top up payment on in gift aid without needing any paperwork is increasing from £5,000 to £8,000 a year.
- The government is announcing a new ambition that ultrafast broadband of at least 100 Megabits per second (Mbps) should be available to nearly all UK premises.
- The government will also take further action to support the delivery of broadband in rural areas, including looking to raise the Universal Service Obligation – the legal entitlement to a basic service – from dial-up speeds to 5 Mbps broadband, and subsidising the costs of installing superfast capable satellite services.
- Budget 2015 launches a consultation into the compulsory purchase regime to make it clearer, faster and fairer for all parties.
- APD rates will increase by RPI from 1 April 2016
General Business Support
- The government, through the introduction of an Apprenticeship Voucher, will put employers in control of the government funding for the training apprentices need
- The British Business Bank is launching a pilot ‘Help to Grow’ programme to increase the supply of growth loans to firms that need between £500,000 and £2 million to achieve their potential. Budget 2015 announces a request for proposals to deliver the pilot
- From 1 April 2015 the VAT registration threshold will be increased from £81,000 to £82,000 and the deregistration threshold from £79,000 to £80,000.