Our Comprehensive Spring Budget 2017 Review

Today Philip Hammond delivered a Budget to prepare Britain for a brighter future with a ‘fair, stable and competitive’ tax system. It was a speech light on tax content with many of the announcements being restatements of changes announced in the 2016 Budget and Autumn Statement.

Amongst the few new changes that were announced the increase in Class 4 NIC appears to have received the most press coverage to date, the reduction in the dividend allowance so soon after its introduction would seem to show a lack of faith in the previous Chancellor’s plans whilst the imposition of a charge on transfers from UK to offshore pensions will prevent that line of tax planning in the future.

The team at Gabelle have once again worked all evening to put together our summary. Once the Finance Bill 2017 is published on 20 March 2017 we will provide further comment on the more salient measures.

I hope you enjoy reading our analysis and if you want to talk through any of the detail please speak to one of the team.

Vaughn Chown

 

OMB/Entrepreneurs

Private Client

Employment

VAT and Customs and Excise Duties

Compliance/Non Compliance

Anti-avoidance

Other