Despite Halloween looming, there was no Hammond House of Horrors in the Budget this week.
The Chancellor’s third Budget confirmed two things we already knew: more money for the NHS and a promise of more spending to end austerity.
The financial services industry breathed a collective sigh of relief at the lack of tinkering in our area. Speculation of a flat rate of pension tax relief proved to be unfounded. But could the idea survive to see another day?
There was good news in terms of personal taxation, with the government meeting its commitments on the level of personal allowance and the higher rate tax threshold a year earlier than planned.
There is the possibility of another Budget to look forward to in Spring 2019 if the UK leaves the EU without a deal. But for now we set out the main changes to tax rates and allowances for individuals, companies and trustees. We have also highlighted other notable changes that may be of interest to advisers.