2017 Autumn Budget – what you need to know.
The first Autumn Budget announced yesterday has been labelled as ‘steady as you go’.
The mains points were:
- The Chancellor decided against attacking pension tax reliefs.
- There will be some changes to Venture Capital Trusts and Enterprise Investment Scheme investments.
- Among the changes to business rates, the so-called staircase tax for business premises on more than one floor will be ‘dealt with’.
- As usual the Government has introduced several provisions to counter both tax avoidance and evasion.
- Company cars have also received some attention with the normal uplift to charges for the coming tax year and drivers of cars with diesel engines facing higher bills.
It is of course worth noting that announcements regarding taxation powers devolved to the Scottish Parliament are expected when the Scottish Budget is published on 14 December.
There were many other important announcements which we cover in our summary and which can be found here.
If you have any questions about the summary’s contents or how any aspects of your tax and financial planning may be affected by the Budget, please call us to discuss them.