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Chancellor Philip Hammond announces Spring Statement 2019

14 March 2019

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The Chancellor of the Exchequer, Philip Hammond announced the 2019 Spring Statement on Wednesday March 13.

In his speech the Chancellor spoke of the economy and its current status along with updates on tax consultations, both new and those previously discussed.

Highlights included the switch to Making Tax Digital which will take place on 1 April 2019. It was stated that a ‘light touch approach’ would be taken toward penalties in the first year and the focus would be on supporting businesses to transition.

The Chancellor also spoke of Capital Gains Tax exemptions, the qualifying period of Entrepreneur’s Relief being extended to two years and Personal Tax allowances.

Our latest publication breaks down the tax consultations which could affect you or your business. To download your copy click here, if you have any questions please do not hesitate to get in touch with your regular contact at James Cowper Kreston.