Autumn Budget 2017: What you need to know

Autumn Budget Summary - Green & Co

Yesterday, the Chancellor announced his second Budget of 2017. Among the key changes to note for this year are:

  • The personal allowance will rise to £11,850 and the higher rate tax threshold for the UK will rise to £46,350 for 2018/19.
  • Automatic enrolment pension minimum contributions increase significantly from 6 April 2018. Employer’s minimum contribution will increase from 1% to 2% with the total minimum contribution increasing to 5% (including 3% staff contribution).
  • The inheritance tax residence nil rate band rises to £125,000 from 6 April 2018.
  • Half of any interest tax relief for personal buy-to-let borrowing will be limited to a 20% tax credit from 2018/19.
  • The VAT threshold will be frozen at £85,000 until March 2020.
  • The diesel supplement for company cars will be increased from 3% to 4% from April 2018.
  • The First time buyers of residential property outside Scotland will pay no stamp duty land tax on the first £300,000 of the purchase price for a home, provided its value does not exceed £500,000.

Download our budget summary to see the rest of the changes announced by Mr Hammond.

If you have any questions about the summary’s contents or how any aspects of your tax and financial planning may be affected by the Budget, please contact us to discuss them.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

Gwent Landlord Forum – 28 November 2017

Gwent Landlord Forum

We would like to invite you to join us at our second Landlord Forum of the 2017/18 season taking place on Tuesday 28 November between 6pm and 8pm at the Parkway Hotel in Cwmbran.

As always, our invitation goes out to all who may be interested in attending this FREE event. So if you know someone who is a landlord or thinking about becoming a landlord, please do pass this invitation on to them – we are always happy to welcome new guests.

Speakers

Douglas Haig, Vice Chair of the Residential Landlords Association will be covering:
  • Important changes to watch out for from the latest budget
  • Updates on some big changes in Wales
  • Previewing the RLA Future Renting Conference taking place on 30th November in Cardiff
Leanne Flanagan, Tax Senior at Green & Co Accountants and Tax Advisors will be covering:
  • Relevant financial aspects of the latest Chancellors Budget and its implications for our landlords

Eventbrite - Gwent Landlord Forum

For any enquiries about this event, please contact Katie Williams at Green & Co on 01633 871122, Email: katie@greenandco.com.

Gwent Landlord Forum – 30 November 2016

PFRLOB1503794 - Logo for Eventbrite V6

Rent Smart registration and another Autumn Budget will take place before our next event! We hope you have sorted out the first, but why not come along to The Parkway Hotel and Spa on Wednesday 30th November between 6pm and 8pm to have a breakdown of the Autumn Budget and specifically its impact on you as a Landlord?

If you are a landlord and currently letting properties or thinking about buying to let in South Wales and you have not previously attended, pop this in the diary. If you know someone who is a landlord and might be interested, please do pass this invitation on to them – we are always happy to welcome new guests. 

Speakers include:

Leanne Flanagan – Tax Senior at Green & Co Accountants & Tax Advisors

Leanne has updated our attendees about the tax implications for landlords as a result of the budgets in the past and she will be focusing on the Autumn Budget and any changes for Landlords at this meeting.

David Vieria – Go Commercial Finance Limited

David will be speaking about ‘alternative lending solutions’ for the buy-to-let market.

 

Eventbrite - Gwent Landlord Forum

 

For any enquiries about this event, please contact Katie Williams at Green & Co on 01633 871122, Email: katie@greenandco.com.