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The 2018 Budget

16 Key Points You Need To Know

budget-2018

The 16 key points you need to know

  • Increase in the Personal Allowance to £12,500
  • The Higher Rate Threshold will increase to £50,000
  • No significant change to Entrepreneurs’ Relief
  • Annual Investment Allowance (AIA) increased to £1m
  • Claiming Capital Allowances on construction costs
  • Special rate pool cut from 8% to 6%
  • VAT Threshold is frozen at £85k until 2022
  • Lettings relief overhauled
  • The 18-month rule has been slashed in half
  • Pensions lifetime allowance rising to £1,055,000
  • ISA annual allowance will remain at £20,000
  • Business rates cut for retail
  • Potential changes to FHL and SA Business rates
  • Consultation on new permitted development rights
  • Financial support for SME housebuilders
  • Help to Buy Equity Loan to be stopped in 2023

Download the full guide here

 

Written in October 2018 by Joshua Tharby MSc ICPA.

Post Author: JSM Partners