BRIEF HIGHLIGHTS OF TAX CHANGES:
> Personal income tax allowance for 19/20 to be £12,500;
> Higher rate (40%) threshold for 19/20 up to £50,000;
> Vat Registration threshold to be held at £85,000 for a further two years to April 2022;
> Duty rates on beer, most ciders and spirits will be frozen. W.e.f 6pm 29 October 2018 Tobacco duties up by 2% over inflation;
> Fuel duty frozen again;
> Stamp duty relief for first time buyers – No duty on purchases of up to £300,000 and first £300,000 of purchases up to £500,000 free of duty to be extended to include qualifying shared ownership property purchasers;
> Annual Investment Allowance increased to £1 million for all qualifying investments made 1 January 2019 to 31 December 2020.