Cheltenham: 01242 260066 | Bristol: 0117 933 5710 | Email accountants@mitchells.org

View our 2019 Spring Statement summary

14 Mar 2019

Chancellor Philip Hammond delivered the 2019 Spring Statement yesterday, responding to the latest economic forecasts published by the Office for Budget Responsibility (OBR).

The OBR revised down its previous UK growth forecast from 1.6% to 1.2%. Borrowing has also been revised down from £25.5 billion to £22.8 billion as a result of rising wages and a 'strong employment market'.

Mr Hammond outlined a handful of measures in the Spring Statement, such as the bringing forward of the £700 million reforms for business apprenticeships, and appointing an expert to review the latest international evidence on the impact of minimum wages, in order to inform future National Living Wage (NLW) policy after 2020.

The Chancellor also announced consultations and publications on possible future changes. These include restricting the Employment Allowance to businesses with an employer national insurance contributions (NICs) bill below £100,000, and reducing the capital gains tax (CGT) private residence relief on the final period exemption from 18 months to nine months.

For a detailed overview of the latest information, read our 2019 Spring Statement summary.

Try a site search Tax returns, budget, pension, rates and allowances...

Contact details

Cheltenham Office: 01242 260066
Bristol Office: 0117 933 5710

Company Registration No: 4161638
Company Registered in England and Wales.
Company details
Mitchell Glanville Limited
Registered Address: 41 Rodney Road, Cheltenham, Gloucestershire GL50 1HX

Bristol Office: The Garden Suite, 23 Westfield Park, Redland, Bristol BS6 6LT
Mitchell Glanville Limited regulated by the Institute of Chartered Accountants in England and Wales
Mitchell Glanville (Bristol) Limited regulated by the Association of Chartered Certified Accountants

© 2020 Mitchells Chartered Accountants. All rights reserved. We use cookies on this website, you can find more information about cookies here.