Autumn Budget 2018

KEY POINTS

• Some tightening of the entrepreneurs’ relief rules.
• Main residence lettings relief is restricted.
• HMRC will be given greater priority in insolvencies.
• The annual investment allowance is increased for two years and new allowances for commercial buildings.
• New rules on profit fragmentation.
• Off-payroll working rules will be extended to the larger businesses in the private sector from 2020.
• No substantive changes to inheritance tax the VAT threshold or pensions tax relief.

Normally chancellors relish the prospect of delivering a Budget – it is an opportunity to make their mark as a great tax reformer and show off their conjuring skills...