BSR Bespoke - Autumn Budget 2017 Summary
Posted on November 23, 2017

We have pleasure in attaching our summary of the key announcements in the Autumn Budget 2017.

The Chancellor announced a steady as you go Autumn Budget.  The main highlight was a new stamp duty land tax relief for first time buyers.  Other highlights include:  

  • The personal allowance will rise to £11,850 and the higher rate tax threshold to £46,350 in 2018/19.
  • Confirming the reduction of the dividend allowance to £2,000
  • The pension lifetime allowance will be increased from £1 million to £1.03 million with no change to the annual allowance.
  • Changes to venture capital trusts (VCT) and enterprise investment schemes (EIS).
  • New 30 day payment terms for capital gains arising on a residential property.
  • The freeze of indexation allowance on the disposal of corporate chargeable gains from 1 January 2018.
  • There will be several changes to business rates, notably dealing with business which occupy more than one floor – the so called ‘staircase tax’.  

We trust that you find the enclosed Budget Summary useful and that it is a helpful basis for a discussion with us about your financial future.

Download the Autumn Budget 2017 Summary