Tag Archives: Chancellor Philip Hammond

What might be in the Autumn Budget?

In normal years, the Autumn Budget (formerly the Autumn Statement) is announced in November. However, with less than 6 months left on the countdown to Brexit, this year is far from a normal year.

At the end of September, Chancellor Philip Hammond revealed that the Autumn Budget would be released on 29 October which is also, unusually, a Monday – traditionally budgets are announced on a Wednesday. Since the Wednesday would’ve been Halloween, perhaps the Chancellor moved the budget forward by two days to avoid a potential Budget horror show. Continue reading

What will the doubling of the EIS investment limits mean?

 

One of the key points for businesses from the Autumn Budget was Chancellor Philip Hammond’s announcement that the Enterprise Investment Scheme (EIS) is set to receive £2.5 billion of public money through facilitation of pension fund access to long-term investment. The investment limits for the EIS will also be doubled for ‘knowledge-intensive’ companies. This means that £2 million of investment will be eligible for tax relief, up from the current limit of £1 million. Mr. Hammond also stated that the government would ensure that the scheme did not become a shelter for risk-free assets as a result of the limit increase. Continue reading