Brewin Dolphin : Autumn Budget reaction

22 November 2017

Simon Blowey, Director of Financial Planning at Brewin Dolphin said: ''Gag-a-minute' Hammond tried to show the human not 'spread-sheet' side of his character with this Budget delivery.
We were relieved that the Chancellor resisted the temptation to make major changes to the pension system, keeping the annual allowance at £40,000, encouraging people to save adequately for their futures. The lifetime allowance will increase in line with inflation from £1m to £1,030,000 on April 6 next year and this is a blessed relief after the constant tinkering with the pension system that has gone before.
There was a drum-roll like expectation before, during and at point of his important delivery for first time buyers and housebuilders - Hammond's house promise delivery. The abolition of Stamp Duty is a response to the recent election's 'Canterbury kids' in a bid to turn them back from Labour, as well as a centrist fillip for aspirational professionals'.

• Any tax allowances or thresholds mentioned are based on current legislation and personal circumstances which are subject to change
• The above does not constitute advice and the opinions expressed are not necessarily held throughout Brewin Dolphin.