We have listed the following points from the Chancellor’s budget, which we think may impact our clients:
For business owners:
-Corporation tax rate will reduce to 19% in 2017/18
-VAT registration threshold is frozen at £85,000 for 2018/19 and 2019/2020.
-Dividend allowance will reduce to £2000.
-Personal allowance increased to £11,850 from 2018.
-New relief for first time buyers: No stamp duty land tax where property costs £300,000 or less.
-Minimum wage increased to £ 7. 83.
-Class 2 NIC abolition delayed to 6 Apr 2019
(last edited on 13 Dec 2017)
The above information and calculations are for illustrative purposes only. No liability is accepted by O’Brien S & Co Ltd for any actions or losses from investment in reliance on the information and calculations. Consult a qualified professional financial advisor before making any financial decisions. O’Brien S & Co Ltd holds the copyrights in all materials on the website. All rights reserved.