Corporation Tax

 

The rate of corporation tax will reduce to 19% from April 2017, and will reduce further to 17% by 2020.

 

 

National Insurance Contributions

 

Class 2 NI contributions will be abolished in April 2018, with Class 4 contributions rising for 9% to 10% in April 2018. For the self-employed, however, it is expected only those with net profits over £16,250 will be affected by this.

 

 

 

Dividend Allowance

 

The tax-free dividend allowance of £5,000 per year is to be reduced to £2,000 from 6 April 2018.

 

 

VAT registration

 

The taxable turnover threshold increases from £83,000 to £85,000 from 1 April 2017.