Posts Tagged ‘budget’
A guide to the Autumn Budget 2025
Introduction The Chancellor delivered her long-awaited, very late Budget, highlighting intentions to review public spending, freeze thresholds, remove and reform specific allowances, and announce future tax increases. It was a Budget that added more complexity to an already complex tax system. As with previous Budgets, this complexity may increase as we will see several consultations…
Read More2024/25 Tax Rates and Allowances
We present our summary of the 2024/25 Tax Rates and Allowances. For our summary of the Spring 2024 Budget, please click here, and for 2024/24 Stamp Duty Land Taxes, please click here.
Read MoreSpring Budget 2024 Summary
The Chancellor presented the last spring budget before the election. He emphasised the importance of implementing reforms to ensure a straightforward and equitable tax system that aligns with economic changes and aids public finances. Similar to previous budgets, ongoing discussions are ongoing, and additional information will be released in the coming weeks. This guide contains…
Read MoreThe 2023 Spring Budget: Impact on UK Small Businesses and the Corporation Tax Increase
In the 2023 Spring Budget, Chancellor of the Exchequer Jeremy Hunt confirmed a sharp increase in corporation tax, from 19% to 25%. Despite being the most substantial hike in nearly 50 years, Hunt reaffirmed that the UK would still have the lowest headline rate of corporate tax in the G7. However, the increase in corporation…
Read MoreMini Budget Tax Cuts Reversed by New Chancellor
New chancellor Hunt brought forward a number of measures from the Medium-Term Fiscal Plan, reversing almost all tax cuts from Kwarteng’s Mini Budget. Read more.
Read MoreEmergency Mini-Budget 2022 – Key Highlights
This morning (Friday 23rd September), Chancellor Kwarteng unveiled his ambitious new “Growth Plan” to tackle inflation, support businesses, and help households. He’s aiming for a 2.5% trend of growth, and key highlights are: Corporation Tax remains at 19%, with the planned rise cancelled Basic rate Income Tax will be cut to 19% in April 2023…
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