In Philip Hammond’s first, and promised to be his last, Autumn Statement, his focus was squarely on promoting certainty and stability for business alongside crucial investment on a number of fronts, most notably infrastructure and innovation. Unsurprisingly, timing of the longed for budget surplus will slip at least to the next Parliament with further room to manoeuvre if the economy hits unexpected head winds.
With the draft Finance Bill arriving on 5 December, several announcements promising consultations, and some fundamental changes to longstanding elements of business taxation, those working in and advising on tax matters will easily deliver on Government’s desire for high productivity.
The pace of change to our tax system continues at a relentless pace – winners and losers there are a plenty!
November 23, 2016