Spring Statement 2019
As expected, today’s Spring Statement contained little of particular interest to financial advisers. The Statement isn’t intended to be a major fiscal event – that’s now the Autumn Budget – and even more so with the Brexit date being so close.
The Spring Statement principally involves the publication of various consultations to be considered in time for the draft legislation to be prepared prior to the Autumn Budget. Today, these included consultation documents on tax avoidance, capital allowances and the National Minimum Wage/National Living Wage.
It was anticipated that the second Office of Tax Simplification report on Inheritance Tax might be issued alongside the Spring Statement but this doesn’t appear to have happened yet. We’ll keep you posted.
Copies of the Spring Statement documents can be accessed via the links below, as can our end of tax year planning guide.