Budget 2017 update for golf clubs

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Very much a steady as she goes budget this year, with little to excite most golf clubs even in the small print!

The National Living Wage and the National Minimum Wage will increase from April 2018

The National Living Wage for those aged 25 and over will increase from £7.50 per hour to £7.83 per hour from April 2018. Over two million people are expected to benefit. For a full-time worker, it represents a pay rise of over £600 a year

The National Minimum Wage will also increase:

  • 21 to 24 year olds £7.38 per hour
  • 18 to 20 year olds £5.90 per hour
  • 16 and 17 year olds £4.20 per hour
  • Apprentices £3.70 per hour

The Tax-free Personal Allowance will rise with Inflation to £11,850 from April 2018

The personal allowance – the amount you earn before you start paying income tax – will rise from £11,500 to £11,850. This means that in 2018-19, a typical taxpayer will pay £1,075 less income tax than in 2010-11.

Fuel Duty will remain frozen for an eighth year

In 2018, fuel duty will remain frozen for the eighth year in a row, saving drivers £160 a year on average.

Duty on beer, wine, cider and spirits will be frozen

The cost of a pint of beer or cider will be 1p lower than if duty had risen by inflation. The cost of a typical bottle of wine will be 6p cheaper.

Cheap, high-strength cider will be subject to a new band of duty.

Business Rates will Switch to being Increased by the Consumer Price Index (CPI) two years earlier than planned

Business Rates will rise by CPI from April 2018. Business rates currently rise by the
Retail Price Index (RPI), a different way of measuring inflation which tends to be higher
than the CPI.

Business rates revaluations will take place every three years, rather than every five years, starting after the next revaluation, currently due in 2022.

Other than this we have not seen anything that will have much impact on golf clubs.

For further information on this please contact Robert Twydle

This ​article is written for general interest only and is not a substitute for consulting the relevant legislation or taking professional advice. The authors and the firm cannot accept any responsibility for loss arising from any person acting or refraining from acting on the basis of the material included herein.