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Category: <span>Budget Summary</span>

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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Autumn Statement News 2022

Here’s a brief overview of today’s Autumn Statement from the Chancellor, Jeremy Hunt: Personal Tax Reduction in the 45p threshold to £125,140 from £150,000 (this will cost Additional Rate Taxpayers £1,250) All other allowances and thresholds to remain the same until the end of March 2028 (which means that the…

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Tax Update – November 2022

This month’s Tax Update focuses on the Government’s U-Turns from 23rd September’s plans in order to steady the financial markets.

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