The Spring Budget 2024 – The Key Tax Measures (PDF Download)

The Key Tax Measures affecting Businesses and Individuals

On 6th March 2024, Chancellor Jeremy Hunt presented his Spring Budget to Parliament. In the knowledge that the government must hold a general election before 28th January 2025, this was a Budget designed to restore confidence and win voters.

But on the heels of Britain entering a recession and downgraded Office for Budget Responsibility (OBR) forecasts, the Chancellor had his work cut out.

Headlines included further cuts in National Insurance Contributions for workers and the self-employed, a slight increase in the VAT registration threshold and an increase in thresholds to reduce the number of people affected by the high-income child benefit charge.

There has also been a cut in capital gains tax for higher earners disposing of residential property. However, income tax rates and thresholds remained static and inheritance tax continues to apply to the largest estates.

Below, you can download a PDF of the key tax measures that will affect businesses and individuals.

FREE DOWNLOAD:Spring Budget 2024 – The Key Tax Measures

The Spring Budget 2024 – Contact Our Accounting and Tax Experts

If you have a question about any of the measures announced by the Chancellor in The Spring Budget 2024 and how they might affect you or your business, please get in touch with us and we would be happy to help.

Call us on 0333 242 3743, or email: support@theuncommonpractice.com

Important Disclaimer

This material is published for client information. It provides only an overview of the regulations in force at the date of publication, and no action should be taken without consulting the detailed legislation or seeking professional advice. No responsibility for loss occasioned by any person acting or refraining from action as a result of the material can be accepted by The Uncommon Practice.