Tax Cuts in the Budget

Guido spotted a few welcome if modest tax cuts in the budget:

  • Stamp Duty cut worth up to £5,000 to first time buyers
  • Personal allowance will rise to £11,850 tax free
  • The higher rate threshold will rise to £46,350*
  • Tax break for transfers of North Sea oil and gas fields
  • Increase in the business R & D tax credit to 12%

A couple of freezes:

  • Fuel duty frozen again this year
  • Froze air passenger duty
  • Beer duty frozen
  • No new tax levies for renewables until 2025 at least

*Given the Scottish higher rate of tax kicks in at £43,000 canny Scots who file their tax returns in England will save themselves a few quid.

Have co-conspirators spotted any more cuts?

mdi-tag-outline Tax
mdi-account-multiple-outline Philip Hammond
mdi-timer November 22 2017 @ 15:01 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
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