fbpx

News & Blog

Read the latest business news, blogs and thought leadership articles from our members, as well as updates on the Edinburgh Chamber of Commerce's work in the city.

News & Blog

Comment on the Chancellor’s Autumn Statement from Alan Barr, Head of Personal Tax Planning at Brodies LLP:

Posted: 24th November 2016

 

alan_9

 

“This now applies even to fundamental income tax decisions – thus the Chancellor wound up by confirming the intention to move to a personal allowance of £12,500 and a higher rate threshold of £50,000. Both of these look likely to  end up being different in Scotland, if the Scottish Government proposals for this Parliament are carried through.

 

“Large amounts of the Statement had been telegraphed in advance and there were few genuine surprises – even the usual raft of more detailed announcements seems more limited than usual. However, some almost throwaway remarks, on such things as benefits in kind and share schemes, may conceal significant tax rises for some. But otherwise it does seem that consistency may for once be more than a mere mantra.

 

“The decision to move to a single Autumn Budget, with a long lead-in for tax changes before they come into effect has a further, doubtless incidental, effect, for Scotland. It will mean that a Scottish Government has the time to react to UK decisions in its own Budget schedule, rather than facing the danger of being caught on the hop by changes made in March, just before the beginning of the tax year.”

 

Business Comment

Business Comment is the Edinburgh Chamber of Commerce’s bi-monthly magazine. It provides insight on Edinburgh’s vibrant business community, with features on the city’s key sectors, interviews with leading figures and news on new business developments in the capital.
Read more here