Tax raids on shareholders and the self-employed, and a shot across the bows of the tax-planning industry, stood out in a largely uneventful Budget for the City today - as UK Chancellor Philip Hammond prepared the country for its exit from the European Union.

Hammond announced a reduction in the tax-free dividend allowance, which will hit company directors and shareholders, from £5,000 to £2,000. It will take effect from April 2018.