What was missing?
‘Middle class tax perks’ as they were being dubbed in the press– salary sacrifice etc – the government is currently considering the position
R&D tax credits/reliefs – following high-profile speeches made at GCHQ and Imperial College London, some quarters were hoping for announcements made to R&D but this was not to be; instead extra spending on national security was announced
IHT – reductions in IHT relief on business & agricultural property – this was widely mentioned and expected but nothing in the details this time
Anti avoidance on dividends taken pre April 2016 – following the expectation that many business owners would
Reduction in CGT reliefs – Entrepreneurs relief – we’d been expecting to see a reduction to this generous relief given the need to make savings
Deeds of variation – the government has considered their use but no new measures are expected at the moment.