Autumn Budget 2017 App Update
Last Wednesday, Chancellor Philip Hammond revealed the UK Autumn Budget. The MyFirmsApp team were watching live and waiting to react.
This resulted in immediate changes being made less than 24 hours after the announcement.
Due to the abolishment of Stamp Duty for first-time buyers, new Stamp Duty text has been added within the ‘More Info’ section and in the disclaimer at the bottom of the Stamp Duty results screen explaining that the calculator does not apply to first-time buyers.
The title of the Stamp Duty calculator has also been changed to reflect that it is not applicable for first-time buyers. Please see the screenshots below:
The following tax tables were then updated in-App over the next 24 hours:
- Apprenticeship Levy
- Basic State Pension
- Capital Gains Tax
- Car and Fuel Benefit
- Corporation Tax Rates
- Income Tax Allowances
- Income Tax Rates
- Inheritance Tax
- National Insurance Contributions
- Registered Pensions
- Stamp Taxes on Property
- Tax Credits
- Annual Tax on Enveloped Dwellings
- Charitable Giving
- Main Capital and Other Allowances
- Universal Credit Intro Rates
- Seed Enterprise Investment Schemes (SEIS)
- Enterprise Investment Scheme (EIS)
Further adjustments will be required to some calculators, but not until the new tax year, so these changes will be made then.
Just imagine how impressed your clients would be if you could respond as swiftly as that to the next Budget!