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Autumn Budget 2017

The Chancellor of the Exchequer, Philip Hammond, delivered his first Autumn Budget on 22 November 2017. 

Take a look at our expert analysis and commentary.

 

Expert analysis

Chancellor Phils the housing gap - In the Chancellor's first Autumn Budget, the gloomy downgrading of the UK's growth forecasts was offset, during his speech, by some positive announcements about increased spending for education, housing, the NHS and to improve productivity. Read more... 

 

Company cars and vehicle changes from 6 April 2018 - The Chancellor continued with his promise to improve the environment by attacking diesel cars and vans by encouraging electric vehicles. Read more... 

 

Venture capital schemes - A new condition is to be introduced to the EIS, SEIS and VCT rules to restrict the relief to companies with the objective to grow and develop and where there is a significant risk of loss of capital. Read more... 

 

Rate changes - The personal allowance will increase for 2018/19 by £350 to £11,850 and the basic rate will extend by a further £1,000 to £34,500. Read more...

 

VAT - In response to the Office of Tax Simplification's report "Value Added Tax: Routes to Simplification", the government will consult on the design of the registration threshold, but in the meantime will maintain it at the current level of £85,000 for two years from April 2018. Read more...

 

Business rates - The Chancellor announced that due to the rise in inflation he would be bringing forward the planned switch from RPI to CPI from 1 April 2018 in relation to calculating the "business rates multipliers". Read more...

 

Taxing gains on UK property sold by non-residents - Prior to 6 April 2015, it was possible for a non-resident person to escape tax on sale of property in the United Kingdom. Read more... 

 

Consultation regarding an extension of Entrepreneurs’ Relief - In what may be welcome news to owners of smaller holdings in trading companies, Mr Hammond announced that there will be a consultation in Spring 2018. Read more... 

 

Measures relevant to innovative companies - The Autumn Budget introduces a number of measures that could affect innovative and 'IP-rich' companies. Read more...

 

Stamp Duty Land Tax - It isn't often that SDLT gets an entire section in one of our Budget booklets but it has been tinkered with more and more in recent years as the Government tied its own hands in respect of other taxes. Read more... 

 

Annual Tax on Enveloped Dwellings (ATED) - ATED is a fixed charge levied on companies that hold residential properties worth over £500,000. Read more...

 

Impact on Companies - Companies currently benefit from an inflationary allowance on qualifying assets they sell, which is known as indexation. Read more...