The Chancellor of the Exchequer Philip Hammond delivered this year’s Spring Statement on Wednesday 13 March 2019. His statement punctuated with his trademark sense of humour was heavily overshadowed by the ongoing deliberations regarding Brexit to which the chancellor alluded. The overall tone was upbeat about economic prospects provided that the UK is able to negotiate a satisfactory agreement with the EU regarding the terms of its exit. No immediate tax changes were announced although a number of proposed spending commitments were (notably in relation to infrastructure and accessing the housing market).
Immediately following Spring Statement 2019 the Treasury published two tax-related consultation documents. One of these contained detailed draft legislation for the new capital allowance for non-residential buildings and structures which was first announced at Budget 2018. The second was a review of the aggregates levy (first introduced in 2002).
The...
