Budget Review

A Softer Autumn Budget Possible?

Government borrowing in the April-to-June period fell to its lowest level since 2007, official figures show. The news could mean that  Chancellor Philip Hammond has room to change course in the Autumn Budget and issue a softer budget for the UK. Borrowing for the financial year so far has reached £16.8bn, £5.4bn less than in the same period in 2017, the Office for National Statistics said. June’s borrowing figure fell to...

Autumn Budget 2017

The Autumn Budget is fast approaching on 22nd November. Moving the budget from spring to autumn was decided to avoid major changes occurring twice a year. However, it is unclear if this will this mean that the changes each autumn will be even more major to make up for it? Speculation around the upcoming budget announcement, would suggest that Philip Hammond is on a mission to shake things up....

The Spring Budget Small Print – Increasing Probate Fees

You may have recently seen in the news that the Government is proposing that probate fees are due to increase for estates worth over £50,000. This has prompted fierce criticism from Tory MPs who called it a ‘£300 million stealth death tax’. A sliding scale of fees is being introduced starting at £300 for estates worth between £50,000-£300,000 and ending at £20,000 for those above £2 million. Even though probate is little...

The Spring Budget – Winners and Losers!

Today The Chancellor Philip Hammond unveiled his first Budget, which aims to provide a “strong, stable platform for Brexit.” The Chancellor said he was supporting families while not spending recklessly. Although the Budget was relatively low-key, other changes were already planned. This adds up to a significant financial impact on millions of families – even before the next Budget in November!  The Highlights    UK second-fastest growing economy in...

2016 Autumn Statement – Winners & Losers!

Now the dust has settled here is what we know… The Chancellor delivered his first and last Autumn Statement, announcing that the Autumn Statement will become the Autumn Budget and in the spring we will have a Spring Statement. There were very little surprises in this year’s statement and unsurprisingly, after the decision to leave the European Union, the announcements from Mr. Hammond are largely focused on promoting growth...

Our 2nd Annual Client Review Seminar!

Saturday, 23rd April 2016 marked our 2nd Annual Client Review Seminar, this is one of the most popular days in the Redwood diary as some of our valued clients come together for a day of review and planning for the year! During the seminar we take Clients through important updates in the Financial and Estate Planning arena. Key highlights are the Budget analysis and commentary, making sure all of...

The Big One – The 2016 Budget!

2016 Budget Review Yesterday came the moment that we had all been waiting for….George Osborne’s 2016 Budget! The Chancellor said that this year the government was presenting a 2016 Budget that would focus on the long term, “put the next generation first” and help make the UK “fit for the future”. To help you make up your own mind, here is the Government’s summary of the key points of...

AUTUMN STATEMENT

AUTUMN STATEMENT The Autumn Statement saw the Chancellor, George Osborne, announce a spending review aimed at delivering economic and national security by building on the foundations of a strong economy. The main announcement for investors was targeted at those looking to purchase buy-to-let or additional homes. From April 2016, Stamp Duty on these purchases will be set 3% higher than for those buying their only property. While many buy...

Budget Review: Things can only get better…

  As suspected, the UK Budget had little in the way of surprises this year. The Chancellor made clear that ‘we are all in this together’ and it is essential that we continue to follow a clear financial strategy towards recovery and reducing the deficit. He built on the pension freedom reforms of last year; he is supporting savers through a new tax-free personal savings allowance and making ISA...