Chancellor Philip Hammond had a rocky path to negotiate in his 2nd budget. He needed to avoid any dangerous ‘u turns’ following the Spring Budget and it seems that, so far anyway, he has avoided falling into the abyss.
There were a few good news stories however. Small businesses will be pleased that the VAT threshold is frozen at £85,000 for 2 years from April 2018. The Personal allowance rises to £11,850 and the higher rate to £46,350. And the big news for first time buyers is that Stamp Duty is abolished on all homes worth up to £300,000.
Conspicuous in it’s absence: fuel duty has not gone up, good news for drivers dependent on their vans, lorries for business.
Click here for our Autumn Budget Report; it’s easy to read, has an ‘at a glance’ page for those who just need the highlights too.
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