The Focus Collection - Retford based accountancy firm and business support solutions

The budget has been announced and some key facts are:
Income tax personal allowance to rise to £12,500 from April 2019
Higher rate income tax threshold to rise to £50,000 at the same time
The national living wage is to increase from £7.83 to £8.21 an hour

Digital Services Tax to be introduced in April 2020 targeting online giants with global revenues of more than £500 million
Schools in England will be handed £400 million in extra funding
The NHS will see a £20.5 billion real terms increase in funding
Fuel duty frozen for the ninth year in a row
Counter-terrorism police to get an extra £160 million funding for 2019/20
An extra £1 billion over five years for the Universal Credit benefit programme
Funding for Government departments’ Brexit preparations increased from £1.5 billion to £2 billion
New tax on the manufacture and import of plastic packaging which is less than 30% recycled
A £650 million Future High Streets Fund co-funded by the Government to help councils improve high streets.
Duty on beer, cider and spirits frozen for a year
Tobacco duty escalator to continue to rise at inflation plus 2%
Remote Gaming Duty to increase to 21% for online gambling on 'games of chance' from 2019
An extra £1 billion for the Ministry of Defence to boost cyber and anti-submarine warfare programmes to the end of 2019
A £420 million fund will help local highway authorities repair potholes and carry out other maintenance tasks

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