In his first and last ‘Spring Budget’, the Chancellor of the Exchequer, Philip Hammond, declared a “new chapter” in the UK’s history as the country embarks on its journey to exit the European Union via Brexit. Much of the Budget’s focus was on social care and a rise in National Insurance costs for the self-employed. There was little that will significantly affect personal financial planning apart from a reduction next year in the £5,000 tax-free dividend allowance.
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