Autumn Statement - focus on the tax
The chancellor has delivered his “last” Autumn statement – which was also his “first”. If you think this is confusing don’t worry – at the end of the day it is a better idea to have one only budget announcement a year – that way there will be less opportunity to increase the tax legislation
Most people focused on analysing the Autumn Statement in respect of the forthcoming negotiations to steer the UK out of the EU. But what about the new rules for VAT. The chancellor took the opportunity to introduce another raft of rules to make VAT even more complicated – defiantely no simplification. There were also changes to Income Tax and National Insurance.
If you want to read more details on any of these points (set out as simply as we can!) please find them here.