News - Autumn Statement 2016
personal allowance (£11000 in 2016/17) will increase to £11500 in 2017/18. Higher rate tax threshold is
to be increased to £50000 by the end of this parliament.
Employer and employee National Insurance thresholds to be equalised at £157 per week from 6 April 2017.
The standard rate will remain at 20%. The turnover threshold for VAT registration
is £83000 and the threshold for VAT registered businesses wishing to cancel their registration is £81000.
It is aniticpated that these will increase in 2018 but no announcement has been made yet.
The Corporation Tax rate (20% in 2016/17) will fall to 19% in 2017/18, 18% in 2019/20 and 17% in 2020/21.