Chancellor’s Autumn Budget for the 2018/19 tax year
We have pleasure in sharing our guide to the Chancellor’s Autumn Budget for the 2018/19 tax year.
Chancellor Philip Hammond presented the 2017 Autumn Budget against a backdrop of ongoing economic uncertainty. The Office for Budget Responsibility revised down its outlook for productivity growth, business investment and GDP growth across the forecast period.
The Chancellor announced a range of measures that will affect businesses and individuals, including the immediate abolition of stamp duty land tax for first-time buyers on homes worth under £300,000, and a rise in the tax-free Personal Allowance to £11,850 from April 2018.
Also unveiled in the Autumn Budget was a change to business rates revaluations: these will now take place every three years, as opposed to every five years, beginning after the next revaluation, currently due in 2022. The Chancellor also addressed the issue of the so-called ‘staircase tax’.
Our informative Budget Newsletter provides an overview of the key announcements arising from the Chancellor’s speech that could have an impact on your business or personal finances.
Don’t forget, we can help to ensure that your accounts are up-to-date and filed in a timely manner, as well as making sure that your profitability is kept to a maximum and your tax liability to a minimum.
You can also download our Free App to access our in-App Budget Pack which has been fully updated following Chancellor’s Autumn Budget announcement. You can view a comprehensive summary, highlights and key reaction all in-App.
Simply head to the Briefcase icon on our App, and you will find all the individual sections updated.
We’ll be updating our clients and our App users via push notifications to ensure they are aware that all the key Budget data has been updated, and directing them to the App to view this information.
News stories – These are covered in the ‘Personal’, ‘Business’ and ‘Other’ announcements tabs in the Budget Pack, covering everything delivered by the Chancellor in his speech.
Reaction – This section is now updated with live reaction and key quotes from leading industry figures commenting on today’s stories.
If you would like specific, one-to-one advice on any of the issues raised in the Chancellor’s Budget speech, please contact us now.