OUR BLOG

Autumn Budget Summary 2017
23 Nov 2017

Autumn Budget Summary 2017

Prospects for growth, especially for productivity have been downgraded, but the Chancellor was bullish in his forecasts for investment and the Government’s intention to sort out the slow pace of house building in the UK. A few non-tax comments of note were:

Business Tax Changes
23 Nov 2017

Business Tax Changes

Corporation Tax changes - Although there is no change to the rate of Corporation Tax, maintained at 19%, HMRC is to freeze indexation allowance on corporate capital gains for disposals after 1 January 2018.

Universal Credit (UC) Changes
23 Nov 2017

Universal Credit (UC) Changes

In response to recent adverse publicity the Government has agreed to various changes that are intended to ease the financial hardship for new claimants. They include:

Abolishing Stamp Duty Land Tax for Certain First-time Buyers
23 Nov 2017

Abolishing Stamp Duty Land Tax for Certain First-time Buyers

With immediate effect, first-time buyers will pay no stamp duty on homes costing no more than £300,000.

Marriage Allowance Extended and Offshore Trusts
24 Nov 2017

Marriage Allowance Extended and Offshore Trusts

There is a small increase in this allowance to £1,185 from April 2018. This is the amount of unused personal tax allowance that can be transferred between spouses, or civil partners, if the person receiving the transfer is not a higher rate tax payer.

Personal Tax and Miscellaneous Matters
23 Nov 2017

Personal Tax and Miscellaneous Matters

The personal allowances for 2018-19 is £11,850 (2017-18 £11,500). According to HMRC, this means that an average taxpayer will pay £1,075 less tax than in 2010-11.

Fuel Duty and Vehicle Changes
23 Nov 2017

Fuel Duty and Vehicle Changes

Fuel duty no change - For 2018, the fuel duty will remain frozen, for the eighth consecutive year.

Autumn Budget Summary 2017
23 Nov 2017

Autumn Budget Summary 2017

Prospects for growth, especially for productivity have been downgraded, but the Chancellor was bullish in his forecasts for investment and the Government’s intention to sort out the slow pace of house building in the UK. A few non-tax comments of note were:

Business Tax Changes
23 Nov 2017

Business Tax Changes

Corporation Tax changes - Although there is no change to the rate of Corporation Tax, maintained at 19%, HMRC is to freeze indexation allowance on corporate capital gains for disposals after 1 January 2018.

Universal Credit (UC) Changes
23 Nov 2017

Universal Credit (UC) Changes

In response to recent adverse publicity the Government has agreed to various changes that are intended to ease the financial hardship for new claimants. They include:

National Living Wage (NLW) and National Minimum Wage (NMW) increases
23 Nov 2017

National Living Wage (NLW) and National Minimum Wage (NMW) increases

From April 2018, the NLW will increase from the present £7.50 per hour to £7.83 per hour.

Abolishing Stamp Duty Land Tax for Certain First-time Buyers
23 Nov 2017

Abolishing Stamp Duty Land Tax for Certain First-time Buyers

With immediate effect, first-time buyers will pay no stamp duty on homes costing no more than £300,000.

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