Autumn Statement 2016 – what was missing

Budget 2016 – what was missing Stamp Duty Land Tax (SDLT) – there have been some pretty loud calls for this to be reformed, especially with recent evidence of first time buyers struggling to get on the ladder due to the SDLT burden. The 3% surcharge on second home owners has done little to dampen buyers’ appetite, raising £670m in … Read More

Autumn Statement 2016 – tax changes we already knew about

Autumn Statement 2016 – tax changes we already knew about Quite a lot had already been announced. Corporation tax to reduce to 17% from 2020 – this was confirmed today. Tax-free personal allowance – will increase to £11,500 from next April Higher rate threshold to increase to £45k from next April Restrictions on tax relief for higher-rate landlords from next … Read More

Autumn Statement 2016 – spending plans

Spending Plans There were few surprises when it came to where our hard earned money was being spent. News had trickled out throughout the last week or so but here are some key announcements: The new National Productivity Investment Fund will provide £23bn to support a range of investments including: £7.2bn for the construction of new homes £4.7bn towards science … Read More

Autumn Statement 2016 – personal & employer taxation

Personal Tax The government has recommitted to raising the personal allowance to £12,500 and the higher rate threshold to £50,000 by the end of the Parliament. It will then rise in line with CPI as the higher rate threshold does, rather than in line with the NMW.  From April 2017 the personal allowance will rise to £11,500 and the higher … Read More

Autumn Statement 2016 – corporate tax

Corporate Tax In 2010 the government committed to the ‘business tax road map’ to provide certainty to businesses, which following Brexit has an increased significance to encourage investment being placed and remaining in the UK. The Chancellor has continued with this policy in his first Autumn Statement. The rates of corporation tax had previously been announced to fall to 17% … Read More