budgets

Budget 2018

The Chancellor’s of 2018 

In a longer than usual Budget speech, and in a slightly more jocular than usual mood, the Chancellor laid out the government’s vision for post-Brexit Britain. With a raft of measures aimed at shoring up businesses, infrastructure and the health service, Mr Hammond used the better than expected public finances to present an upbeat programme. Leaving some of the major announcements for last, this was a Budget to mark the coming of the end of austerity.

Some of the main announcements were:  Personal allowance will be raised to £12,500 from April 2019; Higher rate threshold will also rise to £50,000 from April 2019; The lifetime allowance for pension savings will increase to £1,055,000 for 2019/20 in line with CPI;  The national living wage will increase from £7.83 an hour to £8.21; The annual investment allowance (AIA) will increase to £1 million for all qualifying investments in plant and machinery made on or after 1 January 2019 until 31 December 2020; For entrepreneurs’ relief, the minimum period throughout which the qualifying conditions for relief must be met will be extended from 12 months to 24 months from 6 April 2019. Capital gains tax lettings relief will only apply where the owner of the property is in shared occupancy with the tenant. The final period exemption will also be generally reduced from 18 months to nine months. 

For more details please see here

Budget 2017

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.

For more details please see here

Spring Budget 2017

The Chancellor’s first – and last – Spring Budget

The 2017 Spring Budget will be the last of its type. Probably.

Read more: Spring Budget 2017

Spring Budget 2016

The third Budget in 12 months

This Budget looked as if it would be a difficult one for the Chancellor, faced as he was with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. What was to have been the big announcement – reform of pensions – was kicked into the long grass a few weeks ago. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions.

For more details please see here

Summer Budget 2015

We’ve been waiting for this Budget with bated breath since the Conservatives won the election in May – and the Chancellor delivered a lot in his “big Budget” of Summer 2015. In many ways, Mr Osborne’s announcements this time around are more important than in March, as this Budget sets out many of the measures the Conservatives have wanted to put in place for some time.

Summer Budget

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