We have updated our 2024/25 tax card to reflect the changes announced by the Chancellor in his Spring Statement.
The tax card is now available and can be accessed below.
Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’.
The Chancellor announced additional reductions in NI contributions rates, effective from 6 April 2024, building upon previous cuts made in the Autumn Statement 2023. Additionally, adjustments include a decrease in the higher rate of Capital Gains Tax on residential property sales and the introduction of a new ISA allowance aimed at fostering investment in UK businesses. Furthermore, in response to business advocacy, the VAT registration threshold was raised to £90,000, and plans to extend Full Expensing to leased assets were unveiled.
