Under pressure to support No 10’s ‘end of austerity’ message, bolstered by revised growth forecasts from the Office of Budget Responsibility, and safe in the knowledge that it could all go out of the window in the event of a no-deal Brexit, the Chancellor gave the most eventful Budget speech of recent years.
Alongside our full analysis of Budget 2018 and what it means to you and your money, below the Lambert Chapman Partners share their initial reaction to Budget 2018:
“Overall this budget had no shock announcements for headline numbers with higher rate
tax payers earning less than £100,000 likely to benefit the most…”
“Spreadsheet Phil strikes again…”
“I hope the extra spending overall will not derail the objective of balancing the UK budget…”
“Some useful initiatives with others that will cause consternation and so maybe a bit of a mixed bag. But will the DUP approve?”
“Watch out medium and large private companies where there may be IR35 issues as off-payroll rules that have been introduced to the public sector are now being applied to the private sector…”
“I immediately assumed that there could not have been anything of real excitement to note and having now read the articles, my conclusion remains the same…”
“The qualifying period for business owners to qualify for Entrepreneur’s Relief on sale has increased from one year to two years. This will make it even more important to plan ahead to secure this important relief…”
The views expressed in this article are the personal views of the Author and other professionals may express different views. They may not be the views of Lambert Chapman LLP. The material in the article cannot and should not be considered as exhaustive. Professional advice should be sought in connection with any of the issues contained in the article and the implementation of any actions.