Frontier Group Budget Report 2018

The Chancellor has now revealed the Autumn 2018 Budget, which is the last Budget prior to Brexit.

Higher Rate Band threshold will not kick in till £50,000 which takes into consideration the increased Personal Allowance for 2019/20 of £12,500
The Capital Gains exemption will increase to £12,000 from 2019/20 with the rates staying the same at 10% and 20%
IR35 private sector reprieve until 2020 for “medium and large businesses”
Entrepreneurs’ Relief minimum qualifying period has been extended to 2 years taking effect from disposals on or after 6 April 2019
Non-UK Resident companies that carry on a UK property business, or have other UK property income, will be charged to Corporation Tax
Payment On Accounts for Capital Gains Tax will be introduced for disposal of residential property. For UK Residents this will have effect from 6 April 2020 and for Non-UK Residents this will take effect from 6 April 2019