Autumn Budget 2017 – what does this mean for Tax?
On the announcements in today's Autumn Budget, Cathy Bryant, a lawyer specialising in business tax at Blake Morgan, said: “It is interesting to see the number of measures in the Budget which use the tax system to incentivise and promote the agendas of the day: increase in the EIS thresholds for investments into tech businesses; no benefit in kind tax charges on workplace electrical vehicle charging and a consideration of a tax on single use plastics. The environment featured heavily in the tax measures.
“The Chancellor was looking to ease the burden on small businesses and I believe today’s announcements have given them some headroom to consolidate.
“It is also good news for individuals with the lifting of the personal allowance to £11,850 and the higher rate threshold to £46,350.
“But the greatest beneficiaries of the budget must be first time house buyers with the scrapping in England of stamp duty for purchases of homes up to £300,000.
“It is a balanced budget which has sought to provide some incentives to drive policy but at the same time addressing some inequalities."