On Wednesday 8 March 2017, Philip Hammond delivered the UK's
first Budget since the Brexit vote, the first under Theresa
May's leadership and his first as Chancellor of the Exchequer
signalling his intention to build a strong and stable platform for
Brexit negotiations. Consequently, there were relatively few
announcements that will have a significant impact on the financial
services industry and tax changes were kept to a minimum reflecting
the Government's intention not to overhaul the tax system too
frequently. As previously announced future Budgets are scheduled
for the Autumn with the promise of limited changes throughout the
rest of the year.
In the days running up to the speech, much of the attention was
focused on the tax gap between employees and the self-employed.
Whilst the Chancellor acted to better align the national insurance
contribution (NIC) rates at lower levels of income, profits subject
to taxation at higher and additional rates remain
