There were items of interest to dentists as PFM Dental’s Jon Drysdale explains.
Business rates
- By the end of this parliament, local government will keep business rates revenue. Elected mayors will, subject to certain conditions, be allowed to raise business rates as the uniform rate is abolished.
Apprenticeship levy
- A levy of 0.5 per cent of employers’ wage bill is to be introduced in April, 2017, but will affect less than 2 per cent of UK employers.
Pensions
- People collecting the new state pension from April, 2016, will receive £155.65 per week.
- Tax relief on pension contributions could be subject to further change and a decision was expected today but now seems to have been delayed until the Budget next March.
Buy to let and second homes
- From April 1, 2016, people purchasing buy to let properties and second homes will pay an extra 3 per cent in stamp duty.
Comment
Jon Drysdale, an independent financial adviser from Chartered Financial planners PFM Dental, says: “After much speculation, prediction and guesswork the Chancellor delivered a fairly benign Autumn Statement. There was little to worry high earners and dentists will be relieved that income tax rates remain unchanged. For once, pensions remain off the agenda, probably in anticipation of the consultation (underway) Osborne announced in the last Budget. This is due to report in 2016 - watch this space.”
For more information visit www.pfmdental.co.uk