The Chancellor Philip Hammond presented the last Spring Budget on Wednesday 8 March 2017.

In his speech the Chancellor was keen to point out that he wanted the tax system to be fair, particularly in relation to the distinction between employed and self-employed individuals.

'But a fair system will also ensure fairness between individuals, so that people doing similar work for similar wages and enjoying similar state benefits pay similar levels of tax.'

In the Budget speech the Chancellor announced that he has requested a report to be delivered in the summer on the wider implications of different employment practices. Also the Budget included changes to NICs and the Dividend Allowance.

In December and January the government issued a number of the clauses, in draft, of Finance Bill 2017 together with updates on consultations.

The Budget updates some of these previous announcements and also proposes further measures. Some of these changes apply from April 2017 and some take effect at a later date.

Our summary focuses on the issues likely to affect you, your family and your business. To help you decipher what was said we have included our own comments. If you have any questions please do not hesitate to contact us for advice.

Main Budget tax proposals
Our summary concentrates on the tax measures which include:

  • increases to the Class 4 National Insurance rates
  • a reduction in the Dividend Allowance
  • changes to the timing of Making Tax Digital for smaller businesses.

Previously announced measures include:

  • increases to the personal allowance and basic rate band (a decreased band for Scottish residents)
  • the introduction of the Apprenticeship Levy
  • changes to corporation tax loss relief
  • the introduction of an additional inheritance tax residence nil rate band
  • changes for non-UK domiciled individuals.

Click here to read our summary of the Budget 2017











Event Calendar

February 2018
Mon Tue Wed Thu Fri Sat Sun
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
No Image
14:30
Conferência SEGURANÇA NOS NEGÓCIOSO Regulamento 2016/69 da UE sobre a Proteção de Dados (RGPD)A lei e a prática ANJEv - Associação nacional dos Jovens EmpresáriosR. de Paulo da Gama [...]
No Image
17:30
WORKSHOP MOTIVAÇÃO E PRODUTIVIDADE DAS SUAS EQUIPAS OEIRAS, PORTUGAL     15 DE FEVEREIRO,  17h30 às 19h30 A desmotivação profissional [...]
Date :  Thursday, 15 February 2018
16
17
18
19
20
21
22
23
24
25
26
27
28
No Image
18:30
Novos Contactos, Mais Negócios Informal Business Drinks 28 de Fevereiro 2018a partir das 18h30 The George PubRua Crucifixo 58, 1100-184 Lisboa 50% desconto na Fuller’s [...]
Date :  Wednesday, 28 February 2018

Featured Member

Useful Information

Copyright 2014 - British-Portuguese Chamber of Commerce, Portugal | Desenvolvido por microeuropa 2014