Budget Updates
Stay up-to-date with our spring and autumn budget updates, where we’ll provide you with expert analysis and insights on what it all means for you and your finances.
Spring Budget 2024
The Spring Budget this year was deemed by The Chancellor himself, a ‘Budget for long term growth’.
The most notable announcement was the cut to National Insurance from 10% to 8% for employees and from 8% to 6% for the self-employed. As National Insurance had also been reduced in the autumn statement, this could be seen as a significant tax cut.
Some other key announcements include:
- A cut in the higher rate CGT (Capital Gains Tax) – reducing from 18% and 28% (2023/24) to 18% and 24% (2024/25).
- Child benefit threshold increased from £50,000 to £60,000.
- The VAT threshold has been increased to £90,000.
Spring Budget 2023
Chancellor Jeremy Hunt presented the Spring Budget, with a focus on stimulating the economy while balancing economic and political concern. Some tax rate changes were announced by the Chancellor. However, he had to ensure a balance between longer-term economic goals and current concerns about inflation and cost of living.
Autumn Statement 2023
The Autumn Statement had initially been trailed as focusing on the longer term issues facing the country, but the Chancellor decided to prioritise short-term tax cuts over maintaining future expenditure. The most headline-grabbing immediate moves were cuts to national insurance and placing the expensing of corporate investment onto a permanent basis.
Autumn Statement 2022
The Chancellor Jeremy Hunt’s Autumn Statement is here, and it’s got everyone talking. Amidst a European recession and high inflation caused by the pandemic and war in Ukraine, the statement aimed to restore confidence in the UK’s financial position.
Spring Budget 2022
Against the backdrop of rising inflation rates, the Chancellor announced a series of tax cuts aimed at easing the burden of living costs. To find out more about the latest developments and what they could mean for your finances, delve into our in-depth coverage of the Spring Statement.
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DTE Business Advisers Joins Forces with Top 50 Accountancy Group DJH Mitten Clarke
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