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VAT and duties

Duty on beer, spirits and most ciders will be frozen.
Fuel duty will be frozen for a ninth successive year.
Stamp Duty Land Tax (SDLT) was abolished on the first £300,000 for first time house buyers purchasing properties worth up to £500,000 in the 2017 Autumn Budget.  The Government have announced they will extend the first-time buyers relief in England and Northern Ireland so that all qualifying shared ownership property purchasers can benefit. The change will apply to relevant transactions with an effective date on or after 29 October 2018 and will also be backdated to 22 November 2017.
The VAT registration threshold will remain at £85,000 for two years with no annual increase until April 2022. The government will look again at the possibility of introducing a smoothing mechanism once the terms of the EU exit are clear.
Tobacco duty rates on all tobacco will continue to rise by 2% above Retail Price Index (RPI). This will come into effect from 6pm on 29 October 2018.
Duty on hand-rolling tobacco will increase by 3%.  This will come into effect from 6pm on 29 October 2018.
Duty on most wine and higher strength sparkling cider will rise in line with RPI from 1 February 2019.
From 1 April 2019 Vehicle Excise Duty rates for cars, vans and motorcycles will increase in line with RPI.
A consultation will be launched into charging an extra 1% Stamp Duty Land Tax on non-residents who buy residential property in England and Northern Ireland.


For more details on what was announced in the 2018 Autumn Budget in relation to VAT and other duties, please contact Julie Osborn on 01228 711888.