Watling & Hirst Ltd

Autumn Statement

As usual with any announcement from the Chancellor, the devil is in the detail. Having restricted his room for manoeuvre by promising not to increase income tax, VAT or national insurance it appears that every other tax is in the firing line.

 

The March budget increased taxes on insurance and dividends, and the Autumn Statement continued this path by adding an additional 3% stamp duty rate on buy to let properties and second homes.

We will expand on how this will work when the legislation is released.

 

The march towards the Digital Tax Account continues with information that most businesses, self-employed people and landlords will have to update HMRC at least quarterly via their online tax account.