Autumn Budget 2017: Our key takeaways
Our key takeaways for investors: Stamp duty, EIS and more
Below we cut through the noise and share with you our key takeaways from the Autumn Budget 2017 for investors, and summarise the details of those changes.
Changes to EIS and VCT
The rule changes include:
- An increase in the annual investment limit that ‘knowledge-intensive’ companies can receive under EIS and VCT schemes. This could widen the range of companies that could be considered for this type of investment. Whilst there will be a focus on ’knowledge-intensive’ companies, investments in genuine entrepreneurial and independent ventures, those seeking long-term growth, will continue to be supported.
- The annual investment limit for income tax relief on EIS investments will be doubled from £1m to £2m from April 2018 onwards, as long as the additional £1m is invested in ‘knowledge-intensive’ companies.
Corporation Tax on Capital Gains
Personal Tax Allowance
Hammond announced an increase to the personal income tax allowance, raising the current basic rate allowance to £11,850 from April 2018 and the higher rate tax band to £34,501 – £150,000 respectively.
For an overview of tax allowances and any changes in light of the autumn budget 2017, please see our table below.
Type of Allowance
Current 2017/18 Allowance
New 2018/19 Allowance
Personal income tax allowance
Intention to raise Personal Allowance to £12,500 by 2020
Higher rate income tax band
£33,501 – £150,000
£34,501 – £150,000
Intention to raise Higher Rate Tax band to £37,500 by 2020
Additional rate income tax band
Capital Gains Tax Annual Exemption
ISA allowance (Lifetime ISA))
Junior ISA / Child Trust Fund allowance
Pensions Lifetime Allowance
Inheritance Tax Nil Rate Band
Residence Nil Rate Band
As previously announced