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The Chancellor delivered his first Spring statement, which is set to be the start of a new fiscal reporting process, with any major tax or spending changes to be announced in an annual Budget be delivered in the Autumn. Our Tax Manager, Gary Hughes summarises the key changes.
At Autumn Budget 2017 it was announced that business rates revaluations will take place every three years, rather than every five years, following the next revaluation. This makes bills more accurately reflect the current rental value of properties. Spring Statement 2018 announces that the next revaluation, currently due in 2022, will be brought forward to 2021. This will mean businesses can benefit from the change to three-year revaluations earlier, with the first taking place in 2024.
The government will seek views on how best to use the tax system to encourage the responsible use of plastic. Some of the money raised from any tax changes will be used to encourage the creation of new, greener products and services.
If you’d like any support with your tax planning please contact our specialist tax experts on 0161 476 8276, email email@example.com or visit www.hallidays.co.uk/services/taxation to learn more about how we can help.
Posted 14th March 2018
The Printing industry has an estimated market size of £9.9bn in 2018, a 0.9% increase on the previous year.
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