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Autumn Budget
KEY POINTS
- Some tightening of the entrepreneurs’ relief rules.
- Main residence lettings relief is restricted.
- HMRC will be given greater priority in insolvencies.
- The annual investment allowance is increased for two years and new allowances for commercial buildings.
- New rules on profit fragmentation.
- Off-payroll working rules will be extended to the larger businesses in the private sector from 2020.
- No substantive changes to inheritance tax the VAT threshold or pensions tax relief.
Normally chancellors relish the prospect of delivering a Budget – it is an opportunity to make their mark as a great tax reformer and show off their conjuring skills...
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