Income Tax bands rates and the dividend allowance

November 29th 2017

The Income Tax bands for 2018-19 have been increased. They are:

  • Basic rate band increased to £34,500 (2017-18 £33,500)
  • Higher rate band £34,501 to £150,000 (2017-18 £33,501 to £150,000)
  • Additional rate, no change, applies to income of more than £150,000.

Abolishing Stamp Duty Land Tax for certain first time buyers

November 29th 2017

With immediate effect, first-time buyers will pay no stamp duty on homes costing no more than £300,000.

Universal Credit (UC) Changes

November 29th 2017

In response to the recent adverse publicity, the Government has agreed to various changes that are intended to ease the financial hardship for new claimants. They include:

Venture Capital Schemes

November 29th 2017

Changes are to be made to the Enterprise Investments Scheme, the Seed EIS and Venture Capital Trusts. The aim is to target Venture Capital Schemes on companies where there is a real risk to the capital being invested, and will exclude companies and arrangements intended to provide ‘capital preservation’.

The Budget crystal ball

November 3rd 2017

There is continuing speculation in the financial press about the likely changes that Philip Hammond will introduce in his Budget announcements on 22 November 2017.

Spring 2017 Budget Summary

March 10th 2017

Budget Statement 8 March 2017. Our summary of a selection of specific tax changes and other budget announcements for 2017-18 and future years follow.

Autumn budgets from 2018

December 9th 2016

Mr Hammond surprised listeners to his autumn statement speech when he said: This is my first Autumn Statement as Chancellor. After careful consideration, and detailed discussion with the Prime Minister, I have decided that it will also be my last.

Budget Statement - 16 March 2016

March 22nd 2016

A few surprises in the latest budget announcements that include: tax allowances for micro-business owners, a levy on soft drinks manufacturers, a reduction in the rates of Capital Gains Tax and a doubling of business rates relief for smaller concerns.

Small business changes

August 14th 2015

Summer Budget announcements: Some of the key changes that will impact small businesses in particular are set out below:

Summer Budget 2015 - Personal Tax Changes

July 14th 2015

Personal Tax

George Osborne has presented his first Budget without regard for coalition partners. The measures he has introduced recognise the need to incentivise individuals and businesses, with the promise to balance the nation’s books and reduce debt. We have summarised below some of the more impactful personal tax changes.