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Autumn Budget 2018 on a page

Autumn Budget 2018 on a page

Following the Chancellor's Autumn Budget we have compiled the key announcements for businesses, employers and individuals.

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Partner, Head of International Tax

KPMG in the UK

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Budget 2018 On a Page

Our 'on a page' document covers all the key measures from the Autumn Budget 2018.

Download our quick guide to the Budget, covering the big topics for businesses, employers and individuals.

Businesses

  • Digital Services Tax at 2 percent of revenues for tech giants with global revenues of at least £500 million from April 2020     
  • Targeted relief for goodwill on the acquisition of businesses with eligible intellectual property from April 2019
  • No Intangible Fixed Asset (IFA) degrouping charge from 7 November 2018 where degrouping is the result of a share disposal that qualifies for Substantial Shareholding Exemption (SSE)
  • Capital losses offset restricted to 50 percent of gains from April 2020  
  • £1 million Annual Investment Allowance for calendar 2019 and 2020
  • 2 percent Structural Buildings Allowance for contracts entered into on or after 29 October 2018 

Employers

  • IR35 extended to medium & large private sector businesses from April 2020
  • Employment Allowance restricted to businesses with NIC bills below £100,000 from April 2020

Individuals

  • Entrepreneurs Relief qualifying period increased to 2 years and 5 percent interest in distributable profits and net assets required
  • No abolition of Class 2 NICs in this Parliament
  • January 2019 consultation on 1 percent Stamp Duty Land Tax (SDLT) surcharge for non-residents buying residential property in England and Northern Ireland

Key rates

  • Personal allowance £12,500 from 2019 
  • 40 percent tax rate threshold £50,000 from 2019
  • National living wage £8.21 from 2019
  • £85,000 VAT registration threshold maintained until April 2022
  • No changes to rates of income tax, dividend tax, capital gains tax and corporation tax
  • Pensions lifetime savings allowance rises to £1,055,000 from 6 April 2019

© 2018 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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