The last budget before Brexit took place yesterday. I have highlighted below a summary of the key points that will affect business and individuals.
• Tax free personal allowance has increased to £12,500 from April 2019
• The higher rate tax threshold has increased to £50,000 from April 2019
• The national living wage to increase to £8.21
• The Annual Investment allowance to increase to £1m from April 2019
• Measures to be introduced to benefit 90% of independent shops, pubs and restaurants
PLUS…
• Beer, Cider and Spirits duties are to be frozen
• The cost of a bottle of wine to rise by 8p
The BBC have published some great summary information on how the budget will affect you https://www.bbc.co.uk/news/business-46016544