VAT and duties - David Allen Accountants
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VAT and duties

green tick box The VAT registration threshold will not be reduced as was predicted, it will remain at £85,000 from April 2018.
green tick box Duty on beer, wine, spirits and most ciders will be frozen.
green tick box The fuel duty rise for petrol and diesel cars that was scheduled to increase from April 2018 has been abolished.
green tick box Stamp Duty Land Tax (SDLT) will be abolished immediately for first time house buyers purchasing properties up to £300,000.
green tick box SDLT will also be reduced where a first time house buyer purchases a property valued between £300,000 and £500,000, as the first £300,000 will be exempt from SDLT.
The VAT registration threshold will remain at £85,000 for two years with no annual increase.
Tobacco duty will continue to rise by 2% above Retail Price Index (RPI) inflation until the end of the current Parliament with effect from 6.00pm on 22 November 2017.
Duty on hand-rolling tobacco will increase by 3% with effect from 6.00pm on 22 November 2017.
Vehicle excise duty for diesel cars that do not meet the latest standards is to rise by one band in April 2018.
SDLT will not be abolished for first time buyers in Scotland unless the Scottish Government decide to follow suit.

 

For more details on what was announced in the 2017 Autumn Budget in relation to VAT and other duties, please contact Julie Osborn on 01228 711888.