T: 01332 380691
Ashgates - Accountants and Business Advisors based in Derby
  • Who We are
    • Client Reviews
    • Charity work >
      • 40 Something Challenge
    • Careers
    • Our Values
  • The Team
  • What we do
    • Accountancy Services >
      • Accounts
      • Audit
      • Bookkeeping, VAT & Management Accounts
      • Business Start-up Advice
      • Business Plans & Cashflow Forecasting
      • Company Secretarial
      • Payroll
      • Tax
    • Corporate Finance
    • Financial Services
    • HR Services
    • IT Services
    • Financial Software >
      • Sage
      • Xero
    • Sports Professionals
  • News
  • Contact
  • Resources
    • COVID-19 Hub
  • Who We are
    • Client Reviews
    • Charity work >
      • 40 Something Challenge
    • Careers
    • Our Values
  • The Team
  • What we do
    • Accountancy Services >
      • Accounts
      • Audit
      • Bookkeeping, VAT & Management Accounts
      • Business Start-up Advice
      • Business Plans & Cashflow Forecasting
      • Company Secretarial
      • Payroll
      • Tax
    • Corporate Finance
    • Financial Services
    • HR Services
    • IT Services
    • Financial Software >
      • Sage
      • Xero
    • Sports Professionals
  • News
  • Contact
  • Resources
    • COVID-19 Hub

Budget 2018 Highlights

29/10/2018

 
UPDATE: our Budget commentary is now available here.

The Chancellor has now made his final Budget speech before Brexit.  Here are a few highlights.  Watch out for our in depth commentary, coming soon.

​The highlights:
  • The income tax personal allowance is rising to £12,500 from April 2019.
  • The basic rate band is rising to £37,500 from April 2019.
  • These announcements mean that the 40% tax band will only apply when income exceeds £50,000 and is taking effect a year earlier than originally planned.
  • The 10% Entrepreneurs' Relief for CGT is to remain, but the required period to meet the conditions is being doubled from 12 months to 24, effective from 6 April 2019.
  • The relief for a sale of your main home is being restricted.  The relief that covered the period after you move out now only covers the final 9 months of ownership instead of 18 months.
  • The residence relief used to be extended if your main home had been let while you owned it, but this is now being significantly restricted.
  • No change in the announced corporation tax rates.
  • The capital allowances annual investment allowance is to rise from £200k to £1m from 1 January 2019 for a period of two years.
  • The capital allowances annual rate of 8% in the special rate pool is to be reduced to 6% from April 2019.  This appears to be linked to a new "Structures and Buildings Allowance (SBA)" of £1m per annum.  
  • Off Payroll Working - as expected the changes that hit those working for Public Sector bodies will also be extended to the private sector, although this will be delayed by a year and will take effect in April 2020.  The deductions regime will hit those working for end clients that are "large or medium".  
  • Where small companies want to claim a cash tax credit for R&D expenditure a new limit will be imposed to restrict the refund to 3 times the company's PAYE for the relevant year.  The change will affect accounting periods that begin after 31 March 2020.

Comments are closed.

    Archives

    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    May 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016

    RSS Feed


​Services

Accounts
Audit
Bookkeeping
Business Start-up & Advice
Business Plans & Cashflow Forecasting
Company Secretarial
Corporate Finance
Financial Services
HR Services
IT Services
Management Accounts
Payroll
Sage
Sports Professional
Tax
​VAT
Xero


​Company

Who We Are
​What We Do
Client Reviews
Charity Work
Careers
Team Ashgates
Leave us a Review
​Terms of Use
Privacy Notice
​
Staying COVID-19 Secure in 2020
Cyber Essentials
Tweets by Ashgates

​Website build : Ashgates IT
​
© ASHGATES GROUP 2021. ​ALL RIGHTS RESERVED.
5 Prospect Place, Millennium Way, Pride Park, Derby, DE24 8HG