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05 Dec

Budget 2018 - VAT

Budget 2018 - VAT

Registration threshold frozen until 2022

The VAT-registration threshold was frozen at £85,000 until 1 April 2020 in the last Budget, and the Chancellor extended that until 1 April 2022. HMRC had consulted on the VAT-registration threshold following suggestions from the Office of Tax Simplification.

It is thought in some quarters that the registration threshold is a barrier to the growth of business and so this issue is likely to be revisited in subsequent Budgets.

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04 Dec

Budget 2018 - Duties

Budget 2018 - DUTIES

The following duties remain unchanged:

 • fuel duty

 • beer, and still and lower-strength cider

 • spirits

 • short-haul air passenger duty.

The following duties will increase by inflation (as measured by RPI) with effect from 1 February 2019:

 • wine

 • high-strength cider.

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21 Nov

Budget Report 2018 - Personal News

Personal Allowance

The personal allowance increases from £11,850 to £12,500 from 6th April 2019.  The allowance will also remain at this level for the 2020/21 tax year.

Basic-Rate Band

The basic-rate limit increases from £34,500 to £37,500 from 6th April, 2019.

Consequently, this will increase the higher-rate tax threshold from £46,350 to £50,000.  This limit will remain in place for the 2020/21 tax year.

Starting-Rate Band

The starting rate band for savings will remain at £5,000 for the 2019/20 tax year.

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