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Autumn Budget 2017
Fuel duty
Fuel duty rates will remain frozen for the 2018/19 tax year.
Stamp Duty Land Tax (SDLT)
From 22 November 2017 first-time buyers paying £300,000 or less for a residential property will pay no SDLT.
First-time buyers paying between £300,000 and £500,000 will pay SDLT at 5% on the amount of the purchase price in excess of £300,000.
A first-time buyer is defined as an individual or individuals who have never owned an interest in a residential property in the UK or anywhere else in the world, and who intend to occupy the property as their main residence.
First-time buyers purchasing property for more than £500,000 will not be entitled to any relief and will pay SDLT at the normal rates.
This measure does not apply in Scotland. It will apply in Wales until 1 April 2018, when SDLT will be devolved to Wales.
Single-use plastics waste
The government will launch a call for evidence in early 2018 on how the tax system or charges could help to reduce the amount of single-use plastics waste.
Other measures announced Help to Buy Equity Loan
It was confirmed in the Budget that a further £10bn will be allocated to the Help to Buy Equity Loan scheme, which is designed to help people to buy a home with a 5% deposit. Next generation vehicles To support the transition to zero emission vehicles, the government will invest £200m, to be matched by private investment, into a new £400m Charging Investment Infrastructure Fund. £100m will be provided to guarantee continuation of the Plug-In Car Grant to 2020 to help consumers with the cost of purchasing a new battery electric vehicle. The government has stated that it ‘wants to see fully self-driving cars, without a human operator, on UK roads by 2021’. The National Infrastructure Commission will launch a new innovation prize to determine how future roadbuilding should adapt to support self-driving cars. Transport funding in England £1.7bn will be allocated to improving transport in English cities. Half will be given to Combined Authorities with Mayors, and the rest allocated by a competition.
An extra £337m will go towards a fleet of new trains on the Tyne & Wear Metro. An extra £6m will go towards the Midlands Connect motorway and rail projects. Transport links along the Cambridge - Milton Keynes - Oxford corridor will also be improved.
The Short Parliament of 1640 lasted for just three weeks, and followed an 11-year parliamentary absence
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