Chester 01244 405555

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

Shrewsbury 01743 443 043

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

Airport City, Manchester 0844 800 8346

Office 129
Manchester Business Park
3000 Aviator Way
Manchester M22 5TG

Send us a message
Our Offices

Spring Budget 2017: Predictions

6th March, 2017

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

You might also be interested in...

Fair pay for fair work? “Dividends” in owner-managed companies.

22nd May, 2019

There have been a number of Court decisions in recent years grappling with the application of established legal... Read More »

Defending or Bringing a potential Inheritance Act Claim

17th May, 2019

The recent judgement in Wellesley v Wellesley follows the developing line of claims brought by adult children who... Read More »

Shropshire’s leading ladies come together to celebrate business achievements

17th May, 2019

Businesswomen from across Shropshire have come together at an exclusive afternoon tea event held by law firm Aaron... Read More »

Contact Us