Spring Budget summary 2017

The Chancellor's budget (8th March) was the first of two this year and was relatively low-key, so what will it mean for you?

Philip Hammond's Spring budget 2017 summary

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Key points:

  • A reduction in the dividend allowance from £5,000 to £2,000
  • National Insurance contribution rate for the self-employed will increase from 9% to 10%
  • A new 25% tax charge on transfers to qualifying recognised overseas pension schemes (QROPS)