The Chancellor of the Exchequer, Philip Hammond, will present the UK’s Autumn Budget of 2018 on Monday 29 October.
With the Government’s plan to increase spending on the NHS by 3.4 per cent per year for the next five years, higher taxes will be needed or spending cuts elsewhere.
Then, there is the uncertainty of Brexit, leaving many businesses hoping the Chancellor will keep any significant tax changes to a minimum. However, the crucial importance of innovation to resolve the UK’s productivity puzzle remains undisputed, so all measures to enhance innovation will certainly be welcomed.
As always, our business and tax experts at Beavis Morgan will be on hand to provide commentary and a summary of the key tax changes and what they mean for you and your business. And if you have any concerns or queries relating to the announcements made within the Autumn Budget, we are available to guide you through the tax maze and help you with bespoke solutions to ensure that you and your business are as tax efficient as possible.