Update - the proposed changes to class 4 National Insurance for self-employed individuals have now been dropped. See here for further details.
A summary of some of the changes anounced by the Chancellor of the Exchequer in the 2017 Spring Budget, published on 8 March 2017.
Income and Personal Tax
Personal Allowance and Higher Rate Threshold
The personal allowance is increasing from £11,000 in 2016/17 to £11,500 in 2017/18. The basic rate band will increase from £32,000 for 2016/17 to £33,500 in 2017/18.
Individuals will therefore be able to earn up to £43,000 before paying higher rate tax.
Dividend Allowance Reduction
The current tax free allowance of £5,000 for dividend income is to be reduced to £2,000 fr...
Read more
We’re available
Mon - Fri: 9am - 5:30pm