Day: March 23, 2018

No more March Budgets!

Until 2017, the Chancellor of the Exchequer traditionally delivered a Spring Budget, usually in March, and in more recent years this was preceded by an Autumn Statement to announce interim changes. But no more! Chancellor Philip Hammond has broken the mould, and there will in future be a single Budget each year, which will be […]

Helping children to buy homes

The 3% stamp duty surcharge on the purchase of second homes which was introduced in April 2016 has posed a problem for parents wanting to help their children onto the housing ladder by buying in joint names. However, some enterprising lenders have devised plans which avoid the problem. These plans are called joint borrower sole […]

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No more March Budgets!

Until 2017, the Chancellor of the Exchequer traditionally delivered a Spring Budget, usually in March, and in more recent years this was preceded by an Autumn Statement to announce interim changes. But no more!

Chancellor Philip Hammond has broken the mould, and there will in future be a single Budget each year, which will be delivered in the Autumn and followed by a much less significant Spring Statement in which the Chancellor will respond to economic forecasts from the Office for Budget Responsibility.

It is hoped that one of the advantages of having a single major tax event each year will be to allow for greater consultation on possible changes being considered by the Treasury.