Frontier Group Budget Report 2018

October 30, 2018by Frontier Group
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The Chancellor has now revealed the Autumn 2018 Budget, which is the last Budget prior to Brexit.

Click here to view and download Frontier Group Budget Report 2018

Key Highlights

  • 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

Frontier Group