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Resources 

Provided useful resources access to HMRC and company forms.

Autumn Budget

Hammond heralds vision of an 'outward looking, free-trading nation'
Business tax and investment incentives
National insurance contributions (NICs)
National Minimum Wage and National Living Wage
Tax and travel
Income tax and personal savings
Capital taxes
Making Tax Digital
Value Added Tax (VAT)
Duties
Other measures announced
What they said
A political background to the Budget

Duties

Alcohol and tobacco duties

All alcohol duty rates will be frozen. The government intends to introduce a new duty band in 2019 for still cider of a strength of at least 6.9% but not exceeding 7.5% alcohol by volume.

The duty rate on all tobacco products will continue to increase by 2% above RPI inflation each year until the end of the Parliament. Hand-rolling tobacco will rise by an additional 1% to 3% above RPI inflation this year. The new tobacco duty rates have effect from 6pm on 22 November 2017.

Air Passenger Duty (APD)

The short-haul rates of APD for the tax year 2019/20 will remain at their present levels. The long-haul reduced rate for the tax year 2019/20 will be frozen at the 2018/19 level; the standard rate will increase by £16; and the higher rate will increase by £47.

From April 2018 the Scottish government will replace APD with Air Departure Tax (ADT).

Fuel duty

Fuel duty rates will remain frozen for the 2018/19 tax year.

Stamp Duty Land Tax (SDLT)

From 22 November 2017 first-time buyers paying £300,000 or less for a residential property will pay no SDLT.

First-time buyers paying between £300,000 and £500,000 will pay SDLT at 5% on the amount of the purchase price in excess of £300,000.

A first-time buyer is defined as an individual or individuals who have never owned an interest in a residential property in the UK or anywhere else in the world, and who intend to occupy the property as their main residence.

First-time buyers purchasing property for more than £500,000 will not be entitled to any relief and will pay SDLT at the normal rates.

This measure does not apply in Scotland. It will apply in Wales until 1 April 2018, when SDLT will be devolved to Wales.

Single-use plastics waste

The government will launch a call for evidence in early 2018 on how the tax system or charges could help to reduce the amount of single-use plastics waste.

As well as general accountancy and tax skills, we also have individual specialist skills which enable us to provide clients with a first class service as and when required. With our wealth of experience, we pride ourselves on delivering an unparalleled service to all clients, whatever their size or sector.

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