So, Philip Hammond has delivered his first, and last, Spring Budget. The majority of measures which were “announced” had been trailed previously or were minor amendments to existing strategies. However, there were a couple of surprises:

• Increases in Class 4 NIC and reductions in the dividend allowance for owner-managers and the self-employed.
• The notable absence of 'Brexit', including any potential positive or negative impact.

With respect to the NICs adjustment, the subsequent noise in the couple of days since the budget  – including from Mr Hammond's own party  – has seen the Government trying to quell the disquiet by saying that the whole issue of self employment vis-a-vis taxation will be looked at, effectively kicking the can down the road. The perceived wisdom is that there will be a compromise, so perhaps we will have to wait for the Autumn Budget to see what the resolution might be.  

Click here to download MHA Carpenter Box full review of the Spring Budget 2017