Scrutton Bland Autumn Budget Report

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Autumn Budget 2017

Autumn Budget Report 2017 This Report, which was written immediately after the Chancellor of the Exchequer delivered his Budget Speech, is intended to provide an overview of the latest announcements and recent measures most likely to affect you or your business.

The 2017 Autumn Budget represents the first step in the government’s new Budget regime, which sees the main Budget now being presented in the Autumn, to be followed by a Spring Statement the following year. Throughout this guide we have included tips and ideas to assist you with effective tax and financial planning. We can help to ensure that your financial plans remain effective, even as your personal and business circumstances change. We will work alongside you to help you achieve a rewarding and financially secure future. How to make the most of our services Use page 15 to compile your own summary of the key points arising from the Autumn Budget and any actions you may wish to consider. The 2018/19 Tax Calendar on page 16 details many of the important dates and deadlines for the coming tax year. Do contact us as soon as possible to discuss any action you may be considering, and to review your long-term plans. We always welcome the opportunity to help. Please note: while most taxation changes take effect from the start of the new financial year, or tax year, some may not take effect until 2019, or later. Where relevant, details of these changes have been included in this Report.

Contents Introduction and highlights ............................................ 2 Business tax and investment incentives......................... 3 National insurance contributions (NICs)......................... 5 National Minimum Wage and National Living Wage...... 5 Tax and travel................................................................... 6 Income tax and personal savings..................................... 8 Capital taxes................................................................... 10 Making Tax Digital......................................................... 11 Value Added Tax (VAT).................................................. 12 Duties............................................................................. 12 Other measures announced........................................... 13 What they said............................................................... 14 A political background to the Budget........................... 14 My key Budget points.................................................... 15 2018/19 Tax Calendar.................................................... 16

Introduction and highlights

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