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Autus Newsletter | Spring Statement 2018
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Spring Statement 2018
The Spring Statement was relatively brief, whereas previous Chancellors have used their Autumn Statements as mini-Budgets. Instead, it was what the Autumn Statement was originally meant to be: a between-Budgets review of the public finances. No doubt the Chancellor was helped by revised projections from the Office for Budget Responsibility (OBR), which were marginally better than last November’s numbers...
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Economic update
Mr Hammond came under pressure ahead of the Spring Statement to loosen the purse strings, but he chose to announce no new spending measures or tax changes. If these are to come, they will be in the Autumn Budget, the sole 'fiscal event' of the year. Meanwhile the focus of the Spring Statement was on the economy and the public sector's finances...
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Consultations
Corporate tax and the digital economy -
the government will explore ways to raise revenue from digital businesses such as introducing a tax on revenues that they derive from the UK market. The government is ready to take unilateral action in the absence of sufficient progress on multilateral solutions.
There will also be immediate action...
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Key 2018/19 tax and other changes
April will still see a raft of tax and other changes, some of which date back to the pre-election 2017 Spring Budget. However, the Chancellor did not introduce any new tax measures in his Spring Statement, although he did announce no less than 13 consultations...
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Main Personal Allowances and Reliefs
An overview of the main Personal Allowances and Reliefs for 2018/19, and how they compare to 2017/18...
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Income tax rates and bands
An overview of income tax rates and bands for 2018/19, and how they compare to 2017/18. Including UK excluding Scottish taxpayers' non-savings income, trusts and non-domicile remittance basis charge...
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Scottish income tax rates and bands
From 6 April 2018 Scottish taxpayers are using a new set of income tax rates and thresholds. View our overview of Scottish income tax rates and bands for 2018/19, and how they compare to 2017/18...
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Registered Pensions
An overview of registered pensions for 2018/19, and how they compare to 2017/18...
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Property Transaction Taxes
Devolution across the UK is leading to different rules and tax rates. This is particularly the case with property transaction taxes, which now use different rates and names depending on where in the UK a purchase takes place...
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National Insurance Contributions
A full overview of National Insurance Contributions for 2018/19, and how they compare to 2017/18...
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To view the full Spring Statement Autus Newsletter, click here |
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This newsletter is for general information only and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking any action on the basis of the contents of this publication. The Financial Conduct Authority does not regulate tax advice, so it is outside the investment protection rules of the Financial Services and Markets Act and the Financial Services Compensation Scheme. The newsletter represents our understanding of law and HM Revenue & Customs practice as at March 2018.
Past performance is not a reliable indicator of future performance. The value of investments and the income from them can go down as well as up and you may get back less than you invested.
The value of tax reliefs depends upon your individual circumstances.
Tax laws may change.
The Financial Conduct Authority does not regulate Accountancy Services, Legal Services, Taxation Advice, Business Consultancy Services, Estate Agency Services and some forms of private banking and debt consolidation.
Think carefully before securing other debts against your home. |
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Registered Offices: The Grange, Wheldrake Lane, Elvington, York, North Yorkshire, YO41 4AZ.
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