chester

Chester 01244 405 555

Grosvenor Court
Foregate Street Chester
Cheshire CH1 1HG
DX: 19990 Chester

shrewsbury

Shrewsbury 01743 443043

Lakeside House
Oxon Business Park
Shrewsbury SY3 5HJ
DX: 148563 Shrewsbury 14

Slide e

Airport City, Manchester 0161 537 3324

Offices 204 and 205
Manchester Business Park
3000 Aviator Way
Manchester M22 5TG

6th March, 2017

Spring Budget 2017: Predictions


On Wednesday 8 March 2017 Chancellor Hammond will deliver his Spring Budget.

The draft Finance Bill 2017 has provided us with an indication of government proposals to come into force from April of 2017. The key proposals are:
  • Alignment of National Insurance Contributions (NIC) for employees and employers;
  • Salary sacrifice limitations (the government is fixing a taxable value of those benefit in kinds provided through salary sacrifice at the higher amount of the cash forgone or the amount calculated under existing benefit in kind rules. This means there will no longer be a tax benefit for entering into these agreements);
  • Alignment of dates for making good on benefits in kind. This has the effect of reducing the taxable value of the benefit in kind

Additionally, small businesses are set to suffer with Business Rate revaluations coming into place in April, some businesses could be faced with a 400% whilst some larger businesses may actually receive a decrease in their business rates.

More generally, the main focus has been on a predicted drop in government borrowing.

If you have any queries about the proposed changes and how these could impact you and your employees, please contact our Employment Department.

Helen Watson

Partner & Head of Employment Law
Email: [email protected]
Tel: 01244 405565



Contact Us

You might also be interested in...

Why it pays to seek legal advice before undertaking a new development

12th September, 2022

Partner and Planning Lawyer, Mark Turner, discusses a long running case that highlights not only how seeking legal... Read More »

New Measures Announced to Control the Number of Second Homes in Wales

9th August, 2022

Mark Turner, Partner and member of the Planning, Environment, Energy and Regulatory team, discusses the current issue surrounding... Read More »

Employment Law Newsletter – August 2022

5th August, 2022

Welcome to the latest edition of our Employment Law Newsletter. If you would like discuss any of the... Read More »

Contact Us