Hammond sets date for Autumn Budget 2017

Philip Hammond has announced that Autumn Budget 2017 will be delivered on Wednesday November 22nd.

Confirming the date in the unusual format of a YouTube video, the chancellor said his statement would disclose the government’s plans for spending and raising taxes.

He also gave a few hints as to what themes to expect from his second Budget, similar to the clues he gave on the eve of his Autumn Statement 2016.

But an ex-tax officer says that if the off-payroll rules surface in this Budget, it will be to consult on extending them to the private sector, rather than rolling them out immediately.

“If any legislation were to be amended or reformed from April 2018, we will see draft legislation and a request for responses at the very least being published around November,” said Carolyn Walsh, now the boss of umbrella company CWC Solutions.

Also an accountant, Walsh added: “Considering the IR35 reform was aimed at the public sector which the government can more easily control, any reform of the existing IR35 legislation would need to take into account the cost of implementation. I don't believe that can be done without a proper consultation [first].”

Her counterparts in tax are divided. In a new pre-Autumn Budget poll by Abbey Tax, 42% of accountants expected “proposals” on status; but the same 42% expect tax-raising “measures.”

“It was a dead heat,” the IR35 advisory reflected in a statement yesterday to ContractorUK. “Status clearly remains a ‘hot’ topic, with further changes anticipated.”

For his part, Mr Hammond has said his announcements in 68 days’ time will help “keep the economy strong and resilient,” so that the UK has “an economy that works for everyone.”

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Written by Simon Moore

Simon writes impartial news and engaging features for the contractor industry, covering, IR35, the loan charge and general tax and legislation.
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