The right Budget at the right time

“For the first time in years it appears the Chancellor has listened to the calls of everyone. Spreadsheet Phil has lived up to his name; no swinging changes to taxes, no tinkering at the edges of policy but just solid, if uninspiring, development,” says Tina Riches, national tax partner at Smith & Williamson, the accountancy, investment management and tax group.

“Individuals and businesses crave certainty within the tax system. Philip Hammond elected to keep Britain living within its means by not pushing forward with excessive spending following the additional money highlighted recently by the OBR.”

“‘Right Budget, right time, right Chancellor,’ echoed Philip Hammond in his Budget speech. Unlike Norman Lamont we don’t expect him to be fired within the next week. History will tell whether he’s the right Chancellor at the right time, however, his handling of the tax affairs as we are about to enter a new global future has been generally positive.”

“There were further changes that could have been made, the ongoing issues surrounding pensions have been left for another day, and Making Tax Digital should have been delayed further. Ultimately, we asked for a steady ship and Philip Hammond has provided that. Thank you, Chancellor.”

Disclaimer

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. While considerable care was taken to ensure the information contained within this article was accurate and up to date at the time of publication, no warranty is given as to the accuracy or completeness of the information.  No liability is accepted for any errors or omissions in such information, or any action or inaction taken on the basis of this publication.
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