On Monday 29 October 2018 Philip Hammond delivered the last Budget before Brexit. So what exactly did the Chancellor say and, more importantly, what did it actually mean?
A summary of this year’s Autumn Budget is available here. Autumn Budget 2018
Budget announcements contain many fundamental taxation changes which will affect business and personal lives for the year to come. Written in plain English, we have broken the summary down into the main areas of taxation, including business and corporate, employment, personal and capital. We have also included comments on the more important changes, together with any planning points that may arise.
The Government reserve the right to make changes to fiscal policy at the Spring Statement if the economic circumstances require it. With the Brexit uncertainty these changes could include amendments to tax rates and allowances. The Spring Statement will take place in March 2019 and we will update you on pertinent announcements.
The summary provides an invaluable update for you and will help you get to grips with the changes. It will remain on our website for you to refer to as and when you need it but if you have any questions, don’t forget we are here to help you navigate and plan your way through the tax maze, so please do get in touch.