Autumn Budget November 2017 – Summary

Autumn Budget November 2017 – Summary

Chancellor Philip Hammond has delivered his first Autumn Budget under the new system he announced this time last year. The aim of the new system is for the Finance Bill, which is normally published after the annual Budget, to reach Royal Assent stage in the spring of...
Autumn Budget November 2017 – Business

Autumn Budget November 2017 – Business

Annual update to the Energy Technology List for first year capital allowances Finance Bill 2018-19 will contain provisions to extend First Year Tax Credits (FYTC) for five years and reduce the percentage rate of the claim to two-thirds of the corporation tax rate. The...
Autumn Budget November 2017 – Individuals

Autumn Budget November 2017 – Individuals

Personal allowance and income tax threshold The personal allowance for 2018/19 is set at £11,850 (£11,500 in 2017/18), and the basic rate limit will be increased to £34,500 (£33,500 in 2017-18). The additional rate threshold will remain at £150,000 in 2018/19. The...
Autumn Budget November 2017 – VAT

Autumn Budget November 2017 – VAT

VAT: no change in registration and deregistration thresholds The VAT registration and deregistration thresholds will not be uprated for a period of two years. There will be no revisions to existing legislation and no new legal provisions will be introduced. Therefore...
Autumn Budget November 2017 – Indirect Taxes

Autumn Budget November 2017 – Indirect Taxes

Stamp Duty Land Tax: relief for first time buyers From 22 November 2017 first time buyers paying £300,000 or less for a residential property will pay no Stamp Duty Land Tax (SDLT). First time buyers paying between £300,000 and £500,000 will pay SDLT at 5% on the...