Budget 2018 round up

The Chancellor of the Exchequer gave his Budget to Parliament on Monday 29 October 2018.

Although it was a fairly quiet affair from a care and support employer perspective, a summary of the main measures as they affect low income taxpayers is provided by LITRG.

An important measure to note is that the Chancellor confirmed that the Low Pay Commission’s recommendation for rises to the minimum wage rates will be accepted. From April 2019 the National Living Wage (paid to workers aged 25 or over) will therefore increase from £7.83 an hour to £8.21, with similar increases scheduled for the other rates.

A full summary of what was announced can be found on GOV.UK.