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.
New rules surrounding salary sacrifice, termination payments and benefits in kind are being felt by businesses across the country, with
That time of year again, it was – for UNW, as it hosted its Star Wars-themed employment taxes and law
HM Revenue and Customs (HMRC) has published the latest advisory fuel rates, to apply from 1 June 2018. The new
HM Revenue and Customs (HMRC) has launched an open consultation as it seeks the best route to combat non-compliance with
Established in 2000, NewcastleGateshead Initiative (NGI) is a public-private partnership supported by Newcastle City Council and Gateshead Council and 180