On Wednesday 3 December the Office for Budget Responsibility published its updated forecast for the UK economy. Chancellor George Osborne responded to that forecast in a statement to the House of Commons later on that day.

In the period since the Budget in March a number of consultation papers and discussion documents have been published by HMRC and some of these proposals are summarised here. Draft legislation relating to many of these areas will be published on 10 December and some of the details in this summary may change as a result.

Our summary also provides a reminder of other significant developments which are to take place from April 2015.

The Chancellor’s statement

His speech and the subsequent documentation announced tax measures in addition to the normal economic measures.

Our summary concentrates on the tax measures which include:

• improvements to the starting rate of tax for savings income
• new rules for accessing pension funds
• removal of corporation tax relief for goodwill on incorporation
• changes to the Construction Industry Scheme
• the introduction of new CGT rules for non-residents and UK residential property
• changes to the remittance basis charge for resident non-domiciles
• changes to the tax treatment of pensions on death
• changes to the IHT treatment of trusts
• changes to Stamp Duty Land Tax for residential property.