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Budget 2017 - What it means for you

Posted on by Mark Knight

Chancellor of the Exchequer Philip Hammond delivered his first Budget speech today (Wednesday, March 8, 2017).

It was also the final spring Budget as Mr Hammond announced in last November’s Autumn Statement a rescheduling of the two major fiscal-related announcements of the Parliamentary year.

Starting in the autumn, Britain will have an Autumn Budget announcing tax changes “well in advance of the start of the tax year”. From 2018 there will be a Spring Statement, responding to the forecast from the Office of Budget Responsibility, but no major fiscal event.

As a result, with today’s Budget coming just four months after the Autumn Statement it has been viewed as a “transitional Budget” with no dramatic or radical announcements.

Indeed many tax measures, including those relating to company car benefit-in-kind tax to the end of 2020/21, Vehicle Excise Duty for cars first registered from April 1, 2017, capital allowances, car fuel benefit charge, van benefit charge, van fuel benefit charge and Insurance Premium Tax had been previously announced.

Below we highlight those measures previously announced, alongside other tax changes and spending plans published in the Budget papers and impacting on the company car and van sector and wider motor industry.

The Government’s Autumn Statement 2013 – what it means to you

Posted on by Matt Topham

The Government’s Autumn Statement 2013 – what it means to you

Chancellor of the Exchequer George Osborne delivered the Government’s annual Autumn Statement in the House of Commons today (Thursday, December 5).

Sometimes described as a mini-Budget, he revealed to the nation the state of the country’s economy and public finances, in line with the latest economic forecasts from the independent Office for Budget Responsibility. Mr Osborne said: “Britain’s economic plan is working. But the job is not done. We need to secure the economy for the long term.”

Twenty-four hours earlier Chief Secretary to the Treasury Danny Alexander published the 2013 update to the Government’s National Infrastructure Plan which contained details on £375 billion worth of “pipeline projects” of which around £100bn are in the transport sector.

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