Budget 2017: Top ten takeaways for investment industry

Tax avoidance heavily tackled

Investment Week has summarised ten key points from Chancellor Phillip Hammond's first and last Spring Budget since being appointed Chancellor in July 2016.

1. Tackle tax avoidance Hammond announced a number of measures to tackle tax avoidance, which he predicted would raise a total of £820m over the forecast period. These include "tough" financial penalties on individuals who "enable a tax avoidance arrangement", which is subsequently defeated by HM Revenues and Customs. Already flagged in last year's Autumn Statement, this will be introduced in July and is expected to raise £115m by 2022. 2. Reduction in tax free dividend allowance Hammond reduced the tax free dividend allowance from £5,000 to £2,000, effective as of April 2018, cla...