Autumn Budget 2018

The Chancellor Philip Hammond presented his second Autumn Budget on Monday 29 October 2018. In his speech he stated that 'austerity is coming to an end - but discipline will remain'. He also promised a 'double deal dividend' if the Brexit negotiations are successful but stated that there may be a full-scale Spring Budget in 2019 if not.

Main Budget tax proposals

• increases to the personal allowance and basic rate band
• extending off-payroll working to medium/large organisations in the private sector
• a temporary increase to the Annual Investment Allowance
• freezing the VAT registration threshold for a further two years
• changes to Entrepreneurs' Relief and private residence relief
• measures to tackle the plastic problem.

Previously announced measures include:

• increases in car benefits
• plans for Making Tax Digital for Business
• extending the charge to gains on non-UK residents of non-residential UK property.

Our full report on the Autumn Budget can be found here.