The Chancellor’s first – and last – Spring Budget

09/03/2017

The 2017 Spring Budget Summary.

Chancellor Philip Hammond’s first, and last, Spring Budget was delivered at a pivotal moment for the UK as it readies itself to begin the process of leaving the EU. The Chancellor will announce a second Budget in the autumn as the Treasury changes to the new financial cycle from 2018. However, his first offering of 2017 contained several significant measures:

  • The dividend allowance will be cut from £5,000 to £2,000 from April 2018.
  • Self-employed workers will see their Class 4 national insurance contributions (NICs) increase by 1% to 10% in April 2018, with a further percentage point rise to 11% from April 2019. The government had previously announced that Class 2 NICs will be abolished from April 2018.
  • The individual savings account (ISA) allowance will rise to £20,000 in April 2017 as previously announced.
  • The Chancellor confirmed the launch of a new NS&I investment bond from April 2017 that will pay a 2.2% rate over a three-year term on deposits of up to £3,000.

If you have any questions about the summary’s contents or how any aspects of your tax and financial planning may be affected by the Budget, please contact us >>

Written by Clive Shaw | Chief Executive

Clive joined Mantle Financial Planning in 1991 & became Chief Executive in 2007 Read more >>

Posts by (54)

Leave a Reply

Your email address will not be published. Required fields are marked *

Contact the Team

Call 020 8394 0954    Email

Where We Are

Stoneleigh Office: 77-79 Stoneleigh Broadway, Epsom, Surrey KT17 2HP

Whitton Office: 115b, High Street, Whitton, Twickenham TW2 7LG

Opening Hours

Mon - Fri  9am - 5.30pm