90 posts categorised "Autumn Statement"

18 January 2016

Retaining the diesel surcharge supplement could cost you double

By Nigel Morris With all of the noise about emissions and the Autumn Statement focusing on ‘rebuilding’ the economy and ‘fixing the roof whilst the sun is shining’, it may have escaped us that if the roof is a sun roof in your company car, and that car is a...

13 January 2016

The dust has settled on Autumn Statement announcements, so what does it all mean?

By William Dowsett What with Christmas, New Year and already dealing with your internal guilt of breaking your New Years' resolutions, the Autumn Statement probably feels like a long time ago. The Autumn Statement was combined with the Chancellor delivering the five year Comprehensive Spending Review (I'm pretty sure I...

26 November 2015

SR/AS 2015 - impact of the Autumn Statement on 'generation rent'

John Hawksworth, chief economist at PwC, said: "The Chancellor announced a significant increase in spending on housebuilding, which will be very welcome in countering chronic shortages of housing supply. The government’s proposed planning reforms should also have a positive effect in this area. But it will take a long time...

SR/AS 2015 - PwC says beware of the pensions generation gap

Steve Blackmore, pensions director at PwC in the Midlands said: “Today’s commitment to the triple lock combined with a generation that have retired with generous defined benefit pensions, means that today's pensioners are better off than they have ever been, with increases in pensioner incomes outpacing those in work. “PwC...

25 November 2015

SR/AS 2015 - PwC in the Midlands comments on public sector implications from the Autumn Statement

Public sector asset sales The full document of the Spending Review and Autumn Statement 2015 states that (taken from full document): The government is seeking up to a further £5 billion of corporate and financial asset sales by March 2020, building on successes in the last Parliament. Through the Spending...

SR/AS 2015- PwC comments on implications of the Autumn Statement for people and businesses in the Midlands

Matt Hammond, regional chairman of PwC in the Midlands said: "As hoped, the Chancellor addressed the tax credit cuts, a welcome relief from the cloud of uncertainty faced by many. “Otherwise, the Autumn Statement provided plenty of positive news for the Midlands. Transport and infrastructure spending, devolution support with specific...

23 November 2015

What's on the cards for the Chancellor's Autumn Statement? Our predictions from PwC in the Midlands

This Autumn Statement is likely to see a continuation of the Government’s stated objective to achieve a small budget surplus by 2019/20. It seems likely therefore, that Osborne will largely stick to his tough spending plans and confirm further fiscal tightening. Tax credits have featured heavily in the run up...

17 November 2015

EVENT: Pay, Performance and Risk Seminar

Date: Thursday 10 December Venue: PwC East Midlands, Donington Court, Pegasus Business Park, Castle Donington, DE74 2UZ Time: 8:15am – 10:00am The Autumn Statement and ongoing Office of Tax Simplification consultations are likely to result in further announcements for the world of Pay, Performance and Risk. Many businesses are expressing...

03 December 2014

Autumn Statement 2014: Good news for businesses and families on environmental taxes

By Jayne A Harrold, Midlands indirect tax senior manager Lots of good news for businesses and families on the environmental tax front today as costs are reduced in a number of areas, but it remains to be seen what environmental impact these reductions may have. Carbon price floor: CHPs excluded...

Autumn Statement 2014: PwC comments on impact on construction sector

Commenting on the infrastructure announcements contained within the Autumn Statement, Chris Temple, engineering and construction leader at PwC, said: “Given the slower growth currently experienced in infrastructure, the Autumn Statement provides further clarity on the medium-term opportunities. There’s a lack of significant projects in the short to medium term and...

Autumn Statement 2014: Jonathan Haigh comments on impact of stamp duty changes

Residential impact Commenting on the overhaul of the stamp duty rates in the Chancellor's Autumn Statement, Jonathan Haigh, real estate expert at PwC in the Midlands, said: “People buying an average home will have more money to spend if they complete on their purchase tomorrow. On a £300,000 house- the...

Autumn Statement 2014: Karl Harriman comments on changes to personal tax and anti-avoidance measures

Personal tax changes Karl Harriman, tax partner at PwC in the Midlands, said: "The Chancellor continued his theme of raising the income tax personal allowance above the rate of inflation, with a further increase announced to £10,600. This rise is almost 5% above the rate of inflation, and means that...

Autumn Statement 2014: Chris Romans comments on measures for small businesses and entrepreneurs

In response to the Chancellor’s announcements on support for small and medium sized businesses, Chris Romans, tax partner and head of private business at PwC in the Midlands, commented: "Small and medium businesses, the majority of which are outside London, might be excused for feeling like the Cinderella part of...

Autumn Statement 2014: PwC chief economist comments on public finances

John Hawksworth, PwC’s chief economist, said: “This balancing act is based on a small net fiscal tightening in the Autumn Statement, which re-emphasises that austerity still has at least four more years to run to eliminate the budget deficit. We are in for another Parliament of pain, but there could...

Autumn Statement 2014: Angela Browning comments on the UK R&D implications

Commenting on the implications for UK research and development(R&D) in the Chancellor's Autumn Statement, Angela Browning, who leads PwC's Tax innovation incentives group in the Midlands, specialising in research and development, said: "We welcome changes to increase the R&D incentives for both large companies and SMEs with the R&D Expenditure...

Autumn Statement 2014: Leon Mayfield comments on the introduction of student loans for post graduate students

Education expert at PwC in the Midlands, Leon Mayfield, said: “We really welcome the Chancellor's move to offer a student loan for postgraduate degrees. The HE Commission reported on this issue in Autumn 2012 and recommended that the Government needed to find a way to help people to take their...

Autumn Statement 2014: Steve Blackmore comments on new state pension amount

The Government has announced that the new state pension will be at least £151.25 per week, with the actual amount to be confirmed this time next year. Steve Blackmore, pensions expert at PwC in the Midlands, said: "While it's interesting to know the minimum level of the new single tier...

Autumn Statement 2014: Simon Tivey comments on how Business Rate changes will make shopkeepers happy

Responding to the Chancellor's announcement on Business Rates today, Simon Tivey, partner at PwC in the Midlands, said: "The Autumn Statement has provided further support for SME's following on from the raft of measures announced last year. "As predicted, the annual inflationary increase will again be pegged at 2% for...

Autumn Statement 2014: Steve Blackmore comments on changes to joint-life annuities

Commenting on the tax changes to joint-life annuities when they are passed on to a spouse after death, Steve Blackmore, pensions expert at PwC in the Midlands, said: "The abolition of the death tax on joint-life annuities will boost the attractiveness of annuities and level the playing field with income...

In advance of the Autumn Statement, Simon Tivey, partner and business rates specialist at PwC in the Midlands, predicted:

"The extension of the Small Business Rate Relief scheme has to be a must. It would be very difficult to reverse having been running in its present form since Oct 2010. "360,000 properties under £6000 Rateable Value pay nothing, and a further 180,000 properties under £12,000 get relief. Cost of...