The Chancellor’s second Budget of 2017
This Budget was a steady-as-she-goes, with a relatively modest net tax giveaway of just under £1.6 billion for the coming tax year. The Chancellor main attention-seeking move was to give first time buyers an exemption from stamp duty land tax on the first £300,000 of value for properties worth up to £500,000. With income tax, the changes were much less dramatic – increasing both the personal allowance and the higher rate threshold by 3% – the standard inflation-linked increase. There was better news for pension savers who enjoyed a £30,000 increase in the lifetime allowance and thankfully no cuts to the annual allowance.
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