27th September 2018

After mounting speculation, Chancellor Philip Hammond has announced that the Autumn Budget will take place on Monday 29th October 2018, leaving little more than a month for preparation.

This year’s fiscal event, which was envisaged to be taking place in late November or even December, has been brought forward to avoid a clash with the United Kingdom’s ongoing Brexit discussions. The announcement marks the first time since 1962 that the government will reveal its tax and spending plans on a Monday, moving from its traditional Wednesday lunchtime slot.

The date is sandwiched between key Brexit summits in Brussels and there has been concern that the discussions surrounding Britain’s impending exit from the European Union next March could negatively impact any announcements within the Budget.

Tim McElwaine, Tax Senior Manager at UNW, commented: “This Budget will take place in conditions of unusually high economic uncertainty because of the ongoing Brexit negotiations, which seem likely to be reaching the final crunch point shortly before or after it. The Chancellor will have to find some more money for the NHS following Theresa May’s announcement in June, perhaps raising some taxes to support this, and other public services are also showing signs of strain after years of austerity. He will undoubtedly have warm words for business, but may defer big decisions and changes until the outcome of the Brexit negotiations is known.”

Subscribe to our mailing list to receive our Autumn Budget 2018 Summary straight to your inbox: http://unw.news/subscribe 

Social care sector

There has been great uncertainty regarding payment to carers of the National Minimum Wage and the National Living Wage in the social care sector recently.

Lee Muter, Rebecca Kemp, Chris Muckle

UNW reminded guests that for all their Employment Taxes needs, they’ve got a friend in Lee, as they hosted their

On 1 October 2019, HMRC will introduce a significant change to the VAT rules for construction services. Whilst the actual

Making Tax Digital for VAT

After years of deliberation, HMRC have implemented their Making Tax Digital for VAT (“MTD”) scheme, which went live on 1

Founded in 1995, the County Durham Community Foundation is an independent grant-making foundation that acts as a critical conduit for