Spring Budget 20172017-03-09
The main rate of Class 4 NICs will increase (from the current rate of 9%) to 10% from April
2018 and to 11% from April 2019.
The tax-free dividend allowance was introduced from April 2016 so that the first £5,000 of
dividend income would be tax free. The tax-free dividend allowance will be reduced from £5,000 to £2,000 from April 2018.
The corporation tax rate will be reduced from 20% to 19% for the 2017/18 tax year and to
17% by 2020.
The annual investment allowance of £200,000 per annum remains available for companies
and for unincorporated businesses.
Making tax digital: the rollout begins in April 2018; however for unincorporated businesses
with a turnover below the VAT registration threshold there would be a delay of one year to
the introduction of quarterly reporting.
From 6 April 2017; the annual ISA allowance will increase from £15,240 to £20,000.