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- We choose to put the next generation first
- Chancellor confirms his view that Brexit will create uncertainty on the OBR growth forecasts
- Lowest proportion of people claiming benefits since 1970
- Loan to participators to be taxed at 32.5%
- Personal service companies and loans to directors will be hit hard – Tax avoidance crackdown to include personal service companies
- Interest rate relief on borrowing – will this affect buy to lets?
- Loss relief are to be reviewed and restricted to 50%. Reform of offsetting losses for tax purposes to be ‘reformed’. More flexibility, but limits to 50% – banks will be limited to 25%
- VAT reforms for overseas suppliers to online retailers
- Small business rate relief increased permanently
#Budget2016 SDLT reformed From midnight tonight for commercial property too slice not slab. Details later. 9% pay more, raises £500mn- #Budget2016 will fund a dramatic improvement in HMRC service
- Chancellor: From 2018 we are going to halve the price of the tolls on the Severn Crossings
#Budget2016 - Budget2016 Tobacco duty keeps rising; beer and cider duty frozen, along with whisky – other sin taxes to rise with inflation as planned
- CGT headline rate cut to 20% from 28%, in three weeks’ time. Lower rate CGT cut to 10%
- From April next year I am going to increase the ISA limit from just over £15,000 to £20,000 a year for everyone
#Budget2016 - Chancellor:…put in £4,000 and the government will give you £1,000. Every year. Until you’re 50 #LifetimeISA #Budget2016
- Pension reforms replaced by increased ISA limits and a ‘Lifetime ISA’s for <40’s with £1000 from Gov for every £4000 you put in
#Budget2016 - Extra increase in personal allowance great for the low paid and further along the path to £12,500 by the next general election
#Budget2016 - “A Budget that gets the investors investing, the savers saving, and businesses doing business”
#Budget2016