Welcome to the SeavorChartered Budget Report.
This report looks in depth at how the Budget affects you with sections including Business, Personal, Duties, VAT and other announcements.
At a glance, the headlines are:
Business
- Small retail businesses in England will see business rates reduced by a third.
- The annual investment allowance is to rise five-fold from £200,000 to £1 million for two years.
- Reforms to individuals working under IR35 are to be extended to the private sector from April 2020.
Personal
- The personal allowance is to rise to £12,500, higher-rate threshold up to £50,000.
- A 4.9% increase will see the national living wage set at £8.21 an hour for over-25s.
- Stamp duty land tax abolished for first-time buyers of shared-ownership homes worth up to £500,000.
