This month saw the delivery of the Autumn Statement by our new Chancellor Philip Hammond. The key points for our clients are as follows:
- The personal tax allowance will be rising to £11,500 in April.
- The higher rate income tax threshold will be rising to £50,000 in April.
- National Living Wage is rising to £7.50 per hour.
- Insurance premium tax is rising from 10% to 12% in June. This could have an impact on the price of many household insurance policies, such as car insurance, home insurance and life insurance.
- There is to be a total ban on upfront fees charged by letting agents in England, which will come into place as soon as possible.
For the full picture, read more here.