The chancellor, Philip Hammond presented his Autumn 2017 Budget on 22 November 2017. These are our highlights of his live speech.

Our full coverage, in a more user-friendly order (for tax advisers and their clients) is in Autumn Budget 2017: rolling tracker.


  • 'At a critical stage', the UK is still looking for a special relationship with Europe.
  • Country should be prepared for every eventual outcome: £3b earmarked to deal with extra Brexit changes, in addition to £700m already budgetted.

Office of Budget Responsibility (OBR) predictions (for the term of this government)

  • Currently 1.4 million unemployed: OBR predicts will fall by 600m.
  • Productivity flat: GDP expected average 1.5% 
  • Debt too high: expected to peak this year and then start to decline. Currently 86.5% of GDP.

Investing in tech and infrastructure

  • R & D Tax Credit to increase to 12%
  • Doubling of EIS investment limits for knowledge intensive companies
  • Patient Capital 'action plan' to unlock cash for investment in companies
  • A new British Bank fund, with stand-by in case funding is no longer available post Brexit from the European Development Fund.

Cars, and car tech

  • Autonomous vehicles: a new £400 million infra structure fund 
    • Joke to Jeremy Clarkson [who opposes autonomy]: not the first time you have been snubbed by Hammond and May
  • £100m in Plug-In-Car Grant, and £40m for research into charging
  • No BIK for at work vehicle charging of electrical vehicles
  • New levy on new diesel cars 
  • Fuel duty continues to be frozen

Climate change

  • Plastic bottle tax: a new charge on single use bottles.


  • More Maths for everyone: training incentives for schools and pupils.
  • Computer training from schools to workplaces, includes a new partnership between Goverment, CBI  & TUC with £30m grant for distance learning.


  • VAT refunds for certain taxpayers affected by Scottish VAT reforms


  • Scotland: measures for oil and gas
  • Wales: tolls to be abolished on Severn Bridge

Universal Credit

  • Various measures to assist cash flow for claimants and address deliver of benefits
  • Removal of 7 day wait and advances of up to 100% of benefit
  • Full statement on 23/11/2017.

Income tax rates

From April 2018:

  • Personal allowance rises to £11,850
  • Higher rate threshold to rise to £46,350

National Living Wage will rise from £7.50 an hour to £7.83, as planned

Misc tax and benefits

Alcohol Tax

From April 2018

  • Freeze on alcohol duty

From April 2019

  • Increased duty on strong ciders


A new Young Persons Rail card


  • £10b for capital investment in front-line services
  • £2.8b extra for NHS England, over 3 years

Tax Avoidance & Evasion

  • We hear that HMRC has 'raked in an extra £160bn over seven years'. 

Company tax

  • Phased reduction in CT to continue
  • Indexation allowance for capital gains for companies frozen at 31 Dec 2017


  • No changes to threshold: will consult on design of threshold
  • Online markets: joint liability

Business Rates

  • Annual uprating: switch from RPI to CPI moved forward by two years.
  • Staircase tax: measures to compensate business affected by high court ruling.
  • Pub £1,000 discount to continue for a year.
  • Revaluations will be every three years (instead of five)

Digitalisation and tax

  • Government to publish a position paper on taxing digital platforms
  • From April 2019 income tax on royalties paid by multinationals to their offshore companies in low tax juridcictions

Grenfell Tower disaster

  • More financial assistance to create community space, deal with mental health and support the local authorities.

Empty properties

  • Local authorities to be allowed to set a 100% premium on council tax.


  • Aim to increase the supply of land and re-start the SME housing sector
  • £44b to be committed in loans and guarantees to deliver 300,000 homes per year
  • Planning reforms to make use of urban land, a statement being made in due course.
  • Review of the gap between the number planning permissions granted and buildings being built.
  • New 'growth corridor' to Oxford.

Stamp Duty Land Tax

  • No SDLT for first time buyers purchaing homes costing up to £300,000
  • Relief available on first £300,000 for homes costing up to £500,000 in London.