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UK Autumn Statement

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Are you happy with it?

  • A 25% "diverted profits" tax - often called a "Google tax" - would be aimed at multinational companies
  • Air Passenger Duty for children under-12 would be abolished next year, and under-16s from the following year
  • Bank profits which can be offset by losses for tax purposes would belimited to 50%
  • An extra £2bn would be put into health services across the UK
  • VAT for hospices and air ambulances would be refunded
  • Fuel duty would be frozen
  • The UK would play a "lead role" in a European mission to Mars
  • Investment in businesses, academies, research and culture to create a "northern powerhouse" in England
  • There would be a review of business rates to help High Street stores take on internet firms
  • People will be able to pass on their tax-free ISA allowances to spouses when they die
  • There would be a new £90,000 charge for people who are non-domiciled in the UK for tax purposes but have lived there for 17 of the past 20 years
  • The higher rate income tax threshold would rise to £42,385 next year

Looks good to me but this money has to come from somehwere and our deficit is ever growing so were borrowing more and more and spending more and more, this can't be good. But hey, live for the current :).

Whats the Northern Power House all about?

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