Budget: Tech will unleash new driving possibilities, says EY
Gareth Anderson, tax partner at EY in the Thames Valley and South, comments on measures announced in the chancellor’s Autumn Budget.
Driverless cars: Technology and tarmac to go hand in hand to put UK plc in the driving seat
“Today’s announcement will accelerate the development of driverless vehicles with huge untapped opportunities for businesses, consumers, insurers and those building the actual roads and highway infrastructure. This will need to go hand-in-hand with using technology to squeeze capacity out of the road network, through smart motorways, for example, which could potentially save some of the time and costs involved with building and operating new roads and highways.”
What has the Budget ever done for us? ask the under 30s
“With much talk before the Budget about plans to address intergenerational unfairness, those under 30 might be looking in the cupboard to find it not exactly bare, but not overflowing with goodies either. Rather than putting a pound in the pocket of the millennial by increasing tax allowances or cutting National Insurance Contributions, the Chancellor has chosen to give them an off-peak season ticket.”
Tax relief from beyond the grave
“The law currently allows individuals to transfer 10% of their personal allowance to their spouse or civil partner where the recipient is not a higher rate or additional rate taxpayer. Individuals are able to backdate claims for up to four years. Changes hidden in the Budget documents will allow an individual to make a claim for this back-dating even where their spouse or civil partner has died. Till death do us part no longer applies to taxes.”
