HomeЛюди и блогиRelated VideosMore From: Braceys Accountants

Autumn Budget 2018 - What You Need To Know

0 ratings | 51 views
If you missed the latest Autumn Budget and are wondering how it may affect you and your business, Bracey’s are here to help. On Monday 29th October, the Chancellor of the Exchequer, Philip Hammond, delivered the last Autumn Budget before the UK leaves the European Union in March 2019. The speech, which lasted well over an hour, revealed the Treasury’s plans to end austerity and prepare the country for the country’s impending departure from the EU. As a business owner or sole trader, you will be keen to understand the immediate effect of the Budget once the legislation has been approved by the UK Government. One pre-Budget rumour that many will be happy did not come to fruition was the VAT threshold limit of £85,000 being decreased; with the threshold remaining at its current limit for the next two years. One particular popular announcement was the increase of the Annual Investment Allowance to £1,000,000, from £200,000. The increase will apply from January 1st, 2019 to 31st December 2020, and eligible investments will be exempt from tax. Looking to invest? See if your idea qualifies here: https://goo.gl/EpW89q The Digital Services Tax received a cheer within the House of Commons after it was announced new rules would be implemented aimed at ensuring large social media companies are no longer able to avoid tax. Global digital juggernauts such as Twitter and Google will now be subject to a 2% Digital Services Tax from April 2020. Other key changes for businesses: • Small retailers’ business rates will be reduced by a third. • Minimum wage and personal tax allowances are set to rise. • Large investment to transport links, development of empty spaces and pothole fixtures. Bracey’s Accountants, specialising in bookkeeping, tax, VAT, medical, and accounting services from their Hitchin, Stevenage, Hemel, Bedford, Cambridge and Edinburgh offices. Check out our website here: https://www.braceys-accountants.co.uk/
Html code for embedding videos on your blog
Text Comments (0)

Would you like to comment?

Join YouTube for a free account, or sign in if you are already a member.