Spring Statement
Budget
In Autumn 2016 it was announced that the UK was moving to Autumn Budgets; so after two Budgets last year this year we get a Spring Statement and a Budget in November.
Spring Statement
Economic Highlights
- Reduction in forecast borrowing by the UK
- Economic Growth 2017 was 1.7%
- Inflation (CPI) has risen to 3%
- Sterling is recovering from Autumn low
Income Tax & National Insurance
- 2018/2019 personal allowance rising to £11,850
- The dividend allowance will fall to £2,000
- NI will rise slightly as a result of inflation
Capital Gains Tax & Inheritance Tax
- The capital gains tax allowance will rise to £11,700
- Inheritance Tax Nil Rate Band frozen at £325,00 to 2021
- Residence Nil Rate Band rising to £125,000
On this Day - 23rd March 1929
Sir Roger Bannister was born; he would go on to be the first person to run a mile in under four minutes