Autumn Budget 2018

The Autumn Budget statement from Chancellor Philip Hammond was strongly messaging the success of the Conservative Government’s austerity measures, reporting a substantial upgrade to the health of the public finances by the Office for Budget Responsibility (OBR).

The backdrop of a positive financial environment let the Chancellor open his wallet to a range of incentives as he looks confidently to the future; adding in a proviso that we can’t be complacent and should Brexit result in any major economic or fiscal disturbance, there could be another Budget in Spring 2019. 

For the moment at least, it’s the ending of austerity and a focus on unleashing Britain’s innovative and entrepreneurial appetite to prove that it’s a Britain that’s open for business.

In our blogs below, we have captured the main tax changes announced and we await the Scottish Government’s response when Derek Mackay announces his draft Budget on 12 December.

Should you wish to discuss the impact of these measures on your business or personal tax affairs please contact your usual Johnston Carmichael adviser.

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