Autumn Statement 2016 | Premier Accounts and Consultancy | Manchester Based Accounting
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30 Nov

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Autumn Statement 2016

November 30, 2016 | By |

The report summaries the changes that have been made in various areas of taxation and the dates on which they become effective.

Autumn Statement 2016

The main areas for Small Businesses are:

  • The end of the Autumn Statement
  • Increase in the National Living Wage to £7.50 an hour from April 2017
  • The rate of corporation tax will reduce to 17% by 2020
  • Income Tax allowance to increase to £11,000 and £11,500 from April 2017
  • £1 billion investment in full-fibre broadband and 5G