Spring Budget 2017 UNW summary
Chancellor Philip Hammond delivered his first Budget yesterday, with a mixed background of improved short term economic forecasts but longer term concern over the potential impact of Brexit.
The Chancellor stated this was to be the last Spring Budget, although he also acknowledged it had been abolished by one of his predecessors, only to be reinstated later. He sought to balance some additional spending in areas where he has been under the greatest pressure – social care, the NHS and Business Rates – with limited tax raising, eschewing a spending splurge despite improved forecasts from the Office of Budget Responsibility, preferring to keep his powder dry in case action is needed later to deal with economic weaknesses that may arise due to Brexit or other economic shocks.
There were a limited number of new measures in this Budget, but given the large number of previously announced changes yet to come into effect, many will welcome this.
A summary of the 2017 Spring Budget is now available via the link below. We hope the summary provides a valuable guide to the significant announcements.
If you have any questions regarding the information covered in this summary, or would like advice on a particular area, please get in touch with either your usual contact or any of the UNW Tax partners. Contact details can be found on the final page of this summary PDF.
UNW has announced that Anne Hallowell is to become its new charity and not-for-profit partner. The Newcastle-based chartered accountancy and
On Friday 6th July, the UK Government published its draft legislation for the UK Finance Bill 2018-19. The Bill renews
HMRC has announced that it has extended the payroll Real Time Information (RTI) late filing easement until April 2019. RTI
HMRC proposes to introduce new VAT rules next year for construction services as part of measures to combat VAT fraud.
Local charity MS Research and Relief Fund (MSRRF) is looking to the future after being announced as chartered accountancy and