Autumn Budget 2017

The Chancellor Philip Hammond presented his first Autumn Budget on Wednesday 22 November 2017.

His view is that the economy continues to grow and create more jobs and his report identified a number of actions the government will take.

This included a number of changes to support more housebuilding and a headline amendment aimed at first time buyers who will now not have to pay Stamp Duty Land Tax on homes costing up to £300,000.

Main Budget tax proposals;

Our summary concentrates on the tax measures which include;

  • Increases to the personal allowance and basic rate band
  • Proposed changes to Entrepreneurs’ Relief
  • More tax relief for investment in certain Enterprise Investment companies
  • Improvements to Research and Development tax credit regimes
  • Support for businesses to cope with the effects of business rates revaluation and the so called ‘staircase tax’.
  • VAT limits frozen for two years


Plus, the previously announced measures which include;

  • The reduction in the Dividend Allowance
  • Plans for Making Tax Digital for Business
  • Capital allowance changes for cars from April 2018
  • Changes to NICs for the self employed


Budget information available from Clive Owen LLP

We have a Budget summary booklet which will help you identify how any changes in the Budget may affect you, your family and your business.

E-guide. To download our useful guide in PDF format, click here

Booklet. If you prefer a hard copy for reference, simply email us and we will mail you a copy; [email protected]

Webinar. Our tax experts have prepared a webinar which cover the main changes identified in the Budget. If you would like to view the webinar, click here. It lasts about 35 minutes and you can view it at any time.

The Budget proposals may be subject to change or amendment in the Spring Statement and subsequent Finance Act so please contact us before taking any action as a result of the contents of our summary.

If you have any queries or questions please don’t hesitate to contact us on 01325 349700 or [email protected]