Lifetime Mortgages
October 31, 2016
Kate wins Chartered Financial Planner of the Year 2016
December 14, 2016

Autumn Statement

Our Managing Director, Paul Northmore gives his view on the Autumn Statement

It was an Autumn Statement with ‘no real surprises’ from the Chancellor Philip Hammond.  Here we look at the headlines and what’s happening in April 2017.

Income and Salary sacrifice schemes
Salary sacrifice schemes are to be scaled back meaning that employees who give up part of their salary in exchange for goods and services, be it a mobile phone contract or gym membership, will no longer be able to have tax and national insurance relief on these items.

There will be some schemes not affected, these are:

Child care
Ultra low car emissions
Cycle to work scheme.

Deductions taken before tax for pensions will still continue.

If your salary sacrifice scheme is in place before April 2017, it will be protected until April 2018, with more expensive agreements carrying on until April 2018.

Personal Allowance
The amount that an individual can receive before paying tax will increase to £12,500 by the end of the current parliament –  2020.  There will be a rise to £11,500 in April 2017. The Higher Rate Threshold will rise to £50,000 by 2020-21

The National Living Wage will increase from £7.20 to £7.50 in April 2017.


The Chancellor also announced a new NS&I Investment Bond that will offer a rate of 2.2% in spring 2017. It will give savers the opportunity to put away between £100 and £3,000 and be available to those aged 16 or over.

As previously announced, the ISA allowance will be £20,000 from 6 April 2017.Pensions – Clamp down on double tax relief

The amount that you can save into your pension pot once you have withdrawn from it has been reduced.
Under the pension freedoms from April 2015, people have been able to pay in up to £10,000 a year into their pension.  However the Autumn Statement confirms that from April once you have touched your pension the amount you may re pay to take advantage of tax relief, will now be £4000.
If you have already used the money purchase annual allowance you could now consider bringing forward any planned contributions before this is capped at £4000 in April.
Talk to your adviser about you options when dealing with pension freedoms.


The statement did seem to be aimed at helping businesses and making UK investment more attractive. Corporation tax for business to continue to reduce from current 20%  to  17%.  This is now the lowest in G20.
Export finance will be doubled and £400m will be injected into venture capital firms via the British business bank, which the Chancellor hopes will reduce takeovers of British tech start-ups by foreign buyers.

What else starts in April 2017?

A reminder of the other change we have heard previously which will take affect in April.
Inheritance tax
People will be able to pass on their property to their descendants to the value of £100,000.
The new Transferable Main Residence Allowance (TMRA) will be added to the Inheritance Tax threshold of £325,000, so in total it will allow each individual to pass on £425,000 with no tax payable – this equates to £850,000 per couple.
Lifetime Individual Savings Account (LISA)
In April a Lifetime ISA will be introduced for the under 40s who seemingly do not have as good a deal as the older generation when it comes to pension provision. 
For every £4 saved in an ISA, the government will add £1 – a 25% bonus. The annual bonus can be paid up until the age of 50.

The Autumn Statement is to be abolished. In Autumn 2017, there will be an Autumn Budget and then in Spring 2018 there will be a Spring Statement responding to forecasts from the OBR. However, the government reserves the right to make tax changes in the Spring Statement if necessary.

As always, if you have any questions regarding the announcements call to talk to your adviser on 01752 837950.


  1. homepage says:

    The other day, while I was at work, my sister stole my iphone and tested to see if it can survive a 40 foot drop, just so she can be a youtube sensation. My apple ipad is now broken and she has 83 views. I know this is totally off topic but I had to share it with someone!

  2. myblog says:

    Hello! This is my first visit to your blog! We are a team of volunteers and starting a new project in a community in the same niche. Your blog provided us valuable information to work on. You have done a extraordinary job!

  3. my blog says:

    Hi there, everything is going perfectly here and ofcourse every one is sharing data, that’s actually good, keep up writing.

  4. myblog says:

    Hey there! I know this is kinda off topic but I was wondering which blog platform are you using for this site? I’m getting tired of WordPress because I’ve had issues with hackers and I’m looking at options for another platform. I would be fantastic if you could point me in the direction of a good platform.

  5. Thanks on your marvelous posting! I actually enjoyed reading it, you’re a great author. I will be sure to bookmark your blog and definitely will come back someday. I want to encourage you to continue your great job, have a nice holiday weekend!

  6. click here says:

    Yes! Finally something about %keyword1%.

  7. my blog says:

    Do you have a spam problem on this website; I also am a blogger, and I was wondering your situation; we have developed some nice procedures and we are looking to trade methods with others, please shoot me an e-mail if interested.

  8. home page says:

    I relish, cause I discovered just what I was having a look for. You have ended my four day lengthy hunt! God Bless you man. Have a great day. Bye

  9. home page says:

    Hi! I could have sworn I’ve been to this blog before but after checking through some of the post I realized it’s new to me. Anyhow, I’m definitely glad I found it and I’ll be book-marking and checking back frequently!

  10. 360 frontal says:

    Supposque rempli était constamment comme a cette existence serait davantage primaire, entier orient parfait, 360 frontal neuf

  11. Heya are using WordPress for your site platform? I’m new to the blog world but I’m trying to get started and create my own. Do you need any coding expertise to make your own blog? Any help would be greatly appreciated!

  12. click here says:

    Have you ever thought about adding a little bit more than just your articles? I mean, what you say is important and all. Nevertheless think about if you added some great pictures or videos to give your posts more, “pop”! Your content is excellent but with pics and clips, this blog could certainly be one of the greatest in its niche. Amazing blog!
    click here

  13. Howdy just wanted to give you a quick heads up and let you know a few of the images aren’t loading correctly. I’m not sure why but I think its a linking issue. I’ve tried it in two different internet browsers and both show the same outcome.
    pikachu kigurumi

  14. home page says:

    Hello, I log on to your blogs on a regular basis. Your writing style is witty, keep up the good work!
    home page

  15. I do not even know how I ended up here, but I thought this post was good. I do not know who you are but certainly you’re going to a famous blogger if you aren’t already 😉 Cheers!

  16. Stephani says:

    Incredibly pleasant post. I definitely enjoy this web page. Commence the superior exertion!

  17. Kasha says:

    Hi there! I could have sworn I’ve been to this site before but after reading through some of the post I realized it’s new to me. Anyhow, I’m definitely happy I found it and I’ll be bookmarking and checking back often!

  18. Tanner says:

    I must express my thanks to the writer for rescuing me from this particular issue. Just after researching through the world-wide-web and obtaining methods that were not beneficial, I figured my entire life was well over. Existing without the answers to the issues you’ve resolved by means of this blog post is a serious case, and the ones which may have badly damaged my career if I hadn’t noticed your website. Your own personal understanding and kindness in handling the whole thing was helpful. I am not sure what I would have done if I hadn’t encountered such a point like this. I am able to at this time relish my future. Thanks for your time so much for your specialized and results-oriented help. I will not be reluctant to propose your web page to any person who should receive assistance about this area.

  19. You are totally correct, I would really enjoy to know new info on that subject! I am as well interested by how to attract a good woman since I think it truly is quite cool presently. Keep this up!

  20. mobdro says:

    Hi can you let me know which blog platform you are dealing with? I am looking to start my own personal blog on mobdro apk in the near future although I’m having a difficult time making a decision.

  21. Alicia says:

    I was wondering if you ever considered changing the page layout of your website? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having one or two pictures. Maybe you could space it out better?

  22. Kymberly says:

    Well I really liked reading it. This subject procured by you is very practical for good planning.

  23. Adam says:

    Delighted Hour is Improved! At this time Mon-Fri 430-730 and ALL Working day Sunday! Day-to-day promotions of individual beverages just about every working day of the 7 days Mon-Fri.

  24. Adria says:

    I have to express my thanks to this writer just for rescuing me from this particular circumstance. Just after exploring throughout the world-wide-web and meeting things that were not powerful, I thought my life was done. Living without the solutions to the issues you have resolved all through your good short article is a serious case, and those which could have in a wrong way damaged my career if I had not noticed your website. Your mastery and kindness in maneuvering all the stuff was priceless. I am not sure what I would’ve done if I hadn’t discovered such a step like this. I can at this time look ahead to my future. Thanks a lot so much for this specialized and result oriented help. I won’t think twice to suggest your web site to any person who would need guidance about this problem.

  25. I like what you dudes are up to. Such clever work and coverage! Continue the excellent effort friends, I’ve you to teer counter social blog.

Leave a Reply

Your email address will not be published.