Autumn statement

Autumn statement

The Autumn statement yesterday was pretty uneventful, confirming lower UK growth due to Brexit.

The main points were the following :

• The personal tax allowance will rise to £12,500 and the upper rate tax threshold to £50,000 by the end of the current parliament
• The National Living Wage will rise from £7.20 to £7.50 from April 2017
• Insurance premium tax will rise from 10% to 12% in June 2017
• Employee and Employer NI will be equalised to a £157 per week threshold from April 2017
• Corporation tax will be reduced to 17% by 2020
• There were NOT the anticipated changes to stamp duty