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Autumn Budget: Today’s key points at a glance

The state of the UK economy with Brexit looming

  • In 2017, growth is expected to come in at 1.5 per cent, falling to 1.4 per cent in 2018
  • Through 2019 and 2020, growth is set to fall again to 1.3 per cent, before picking up to 1.5 per cent in 2021 and then to 1.6 per cent in 2022
  • The Bank of England’s will continue to target 2 per cent inflation
  • £3bn to be set aside over next two years to prepare for every possible outcome as the UK leaves EU


  • Personal allowance on income tax to rise to £11,850 in April 2018
  • Higher-rate tax threshold to increase to £46,350
  • National living wage to rise in April 2018 by 4.4 per cent, from £7.50 an hour to £7.83.
  • Tax evasion crackdown to raise £23bn a year

  • VAT registration threshold of £85,000 kept as it is

Stamp duty

  • Stamp duty abolished for purchases up to £300,000 for first-time buyers and the the first £300,000 of the cost of a £500,000 purchase


  • A ‘patient capital’ action plan that aims to unlock £20bn of new investment in UK scale-up businesses
  • Investment for over £500m in a range of initiatives supporting technology
  • EIS limits doubled on certain investments
  • A further £2.3bn added for investment in research and development


  • Universal Credit to get £1.5bn package to address delivery concerns
  • Initial week wait to process claims to be scrapped



Gina Miller-led manager launches new Sipp as it reforms fees

SCM Direct has tweaked the fees on its digital offering in response to the upcoming Mifid II rules as it launches a new Sipp account. The company, headed by prominent anti-Brexit campaigner Gina Miller and her husband Alan, claims the changes to the platform will make it one of the cheapest digital wealth managers in […]

Autumn Budget: Personal allowance to increase

In today’s Autumn Budget Chancellor Philip Hammond announced the personal allowance will rise to £11,850 per year from April 2018. The increase will mean a typical basic rate taxpayer will be £1,075 better off a year than in 2010, Hammond said. The higher rate tax threshold will also be increased to £46,350. Hammond promised to […]


Goldman chief executive calls for second Brexit referendum

Goldman Sachs chief executive Lloyd Blankfein has called for the UK to hold a second Brexit referendum. The boss of the world’s largest bank has made several veiled swipes at Brexit on social media over the last month, but in a Tweet on Thursday afternoon Blankfein was more explicit. He said: “Here in UK, lots […]


Asset manager to hike fund fees on Mifid II costs

Boutique firm Crux Asset Management will increase the cost of some of its funds as it plans to continue to charge clients for research after Mifid II, Money Marketing can reveal. Despite many peers having decided to absorb the costs, at the start of November the firm, created by ex-Henderson Global Investors star fund manager […]

How to use wills to protect your clients’ wishes

March was Free Wills Month! Free Wills Month brings together a group of well-respected charities to offer members of the public aged 55 and over the opportunity to have their simple wills written or updated free of charge by using participating solicitors in selected locations around England and Wales. Research by the Law Society* highlighted that only 64 […]


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