Spring Budget 2017

THE CHANCELLOR’s FIRST – AND LAST – SPRING BUDGET

The 2017 Spring Budget will be the last of its type. Probably.

The publication of the Finance Bill in the spring/summer of this year will presage a change in Parliamentary proceedings. A second Budget in autumn 2017, followed by a Spring Statement in 2018, marks the start of a process enabling Parliament to scrutinise tax changes well before the tax year where most will take effect.

As if the domestic ‘flip-flopping’ of a long-standing timetable wasn’t enough, the Chancellor, Philip Hammond, delivered his first Budget speech against a backdrop of Brexit uncertainty. Beyond the laughs from the government benches combined with the usual Opposition scowls, the Chancellor sent out some fairly serious messages.

For starters, as part of a fiscally-tight Budget there was the Chancellor’s decision to target the self-employed, company owners and investors in a bid to raise billions of pounds and provide a “strong and stable platform” for the UK’s negotiations as it navigates a path away from the EU. He also proposed to enhance the fairness in the UK’s tax system, with a view to transforming the economy into one that works for everyone.

Download our budget report here

Please note that tax advice which contains no investment element is not regulated by the Financial Conduct Authority.

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