Highlights from the Autumn Budget 2017

17th January 2018

  • Stamp duty abolished immediately for first-time buyers purchasing properties worth up to £300,000
  • To help those in expensive areas, the first £300,000 of the cost of a maximum £500,000 purchase will be exempt from stamp duty, with the excess of up to £200,000 incurring 5% duty
  • Not applicable in Scotland unless Scottish government decides to follow suit
  • Pension lifetime allowance to increase in April 2018 to £1,030,000
  • Higher-rate tax threshold to increase to £46,350 from April 2018 (Scotland may differ)
  • ISA limit for 2018/19 to remain at £20,000