Autumn Budget 2018
01 November, 2018
Well here we are again. Another year, and another budget from Chancellor Philip Hammond. The budget this year was not quite the block buster that some had envisaged, instead focussing on detail, and calm measured actions which will nudge future economic developments, rather than drive wholesale changes in policy. Pensions were largely untouched, with the only change being the modest inflationary increase in the lifetime allowance in line with what we had been led to expect. There had been some commentary suggesting that the tax free status of pension commencement lump sums might be under threat, or even that the rate of tax relief on contributions might be restricted for high rate tax payers - but happily no changes were forthcoming this year. Overall a quiet budget from a quiet Chancellor who focusses on detail.
For a bit more detail about other measures in the budget, download our handy guide.