The Chancellor Philip Hammond delivered the Autumn Budget yesterday, Monday 29 October 2018.
In his speech, Hammond declared that “austerity is coming to an end” and bolstered his declaration by bringing forward his promise to increase both the tax-free personal allowance and the higher rate tax threshold by 12 months. He also suggested that Britain would enjoy a “double deal dividend” should we manage to strike a Brexit deal, but hinted towards a second full Budget announcement in the Spring if the deal fails to materialise.
To help you to understand how these updates will affect you, we have produced a summary of the main changes broken down into the areas that are most likely to be of interest to you, including personal, business, employment and capital taxes.
Our tax specialists from around the UK watched the Budget live and shared their immediate reactions to some of the proposals, and their thoughts on the impact for businesses and individuals. See our UHYView document here.
View our ‘at a glance’ summary of the main points here.
If you have any questions, please do not hesitate to contact us for advice.