2017 March Budget - What Could Happen

23rd February 2017

... Comments

Against this background and considering that tax receipts are higher than forecast and Brexit I do not forecast major changes in policy in this March budget - if there are to be any I would expect announcements in the Autumn.

So what to expect:

Small business rate relief, spoken about a lot and widely anticipated to be included in the Provisions.
Funding announcements concerning one or more of the NHS, social care and Education.
Increase in the personal allowance for 2017-2018 my guess would be £11,500.
More measures regarding tax avoidance.
Given Mr Hammonds words some measures regarding multinational companies - tightening of tax rules or no business rate relief for the likes of Starbucks and Amazon.
I expect that in the fullness of time there to be an increase in the Capital Gains Tax rates to be nearer to or match Income tax rates.
Again in the fullness of time I expect that Pension contributions will be restricted to Basic rate relief only.
Announced in the last budget we may find out what the National Productivity Investment Fund is to be allocated to.
I expect some changes to RandD tax credits pros sibyl coupled with Brexit.

As always these future forecasts are made without any liability attaching to the Author and if you have any specific planning issues please do not hesitate to Branston Adams on 01252 728598.

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