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Category: <span>Budget Summary</span>

Changes for Employers in 2025

If you have employees, it is important to note the significant changes that have been made in the Autumn Budget to both the National Minimum Wage and Employers’ National Insurance Contributions. These changes will mean increased costs for many employers from April 2025. In this Insight we take a look…

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Labour’s First Budget in 14 Years

Britain’s first female Chancellor, Rachel Reeves, delivered her maiden budget speech on Wednesday 30th October 2024, marking Labour’s first fiscal announcement in 14 years. In a wide-ranging address focused on economic growth and budgetary responsibility, she unveiled several major tax changes and a new approach to government borrowing. Key changes…

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Are there ‘painful’ times ahead?

The Prime Minister, Sir Keir Starmer, speaking from Downing Street last Tuesday, has said that the budget in October will be “painful” and the government would be making “big asks” of the country. He said that the country would need to be prepared to “accept short-term pain for long-term good”…

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Payroll Updates: Changes to National Insurance

In the Spring Budget on 6th March, one of the headline announcements by Chancellor Jeremy Hunt was a the further reduction to National Insurance. In this ‘Insight’ we take a look at what this means for Employees, Employers and the Self-Employed, with a look at the new National Living Wage…

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Tax Update March 2024 – Spring Budget

On 6th March 2024, Chancellor Jeremy Hunt presented his Spring Budget to Parliament. 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…

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Tax Update December 2023

Welcome to the December 2023 Tax Update. In this edition we take a look back at the Chancellor’s Autumn Statement, the Unified R&D Tax Credit Scheme, advisory fuel rates for company cars; and what’s coming up on the ‘Accounting Horizon’. If you need any help or advice on any of…

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Autumn Statement Summary

On 22nd November 2023, Chancellor Jeremy Hunt presented his Autumn Statement to Parliament. Headlines included generous National Insurance Contribution (NIC) cuts for workers and the self-employed and the ‘biggest permanent tax cut in modern British history for businesses’. Below, we summarise the Autumn Statement headlines and other measures announced. Please…

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Tax Update April 2023

The main points of this month’s Tax Update have been covered in our Spring Budget Summary published on 18th March – to visit this Blog – CLICK HERE… There have been some other announcements of note in recent weeks: CLICK HERE for ‘New VAT Penalties’ CLICK HERE for ‘Business Rate…

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Spring Budget 2023

On 15th March 2023, Chancellor Jeremy Hunt presented his first Budget to Parliament and set out a plan to reduce inflation, grow the economy and get Government debt falling, all whilst avoiding a recession and tackling labour shortages.  Below we set out some of the main points: COST OF LIVING…

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Tax Update December 2022

Tax Increases and Public Spending Cuts The new Chancellor Jeremy Hunt had warned the public and the financial markets that his Autumn Statement would include ‘eye-watering’ cuts in public spending and tax rises for those with the ‘broadest shoulders’. Unlike the ill-fated Fiscal Event of 23rd September, the Government ‘rolled…

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