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

FY	2016/17	2017/18	2018/19	2019/2020
CT rate	20%	19%	18%	17%

-VAT registration threshold is frozen at £85,000 for 2018/19 and 2019/2020.

-Dividend allowance will reduce to £2000.

For individuals:

-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)

Disclaimer:

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.

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