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…
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…
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…
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…
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…
This month’s Tax Update focuses on the Government’s U-Turns from 23rd September’s plans in order to steady the financial markets.
This month’s Tax Update is understandably focused on the recent mini-budget announced by the Government to stimulate economic growth.
On Friday 23rd September 2022, the Chancellor Kwasi Kwarteng announced a series of growth measures that the Government thinks will help businesses and households get through this winter and beyond. The chancellor announced: The 1.25% percentage point rise in National Insurance contributions will be reversed from 6 November 2022 and…
With inflation rising and households facing the largest ever recorded cost-of-living squeeze, Chancellor Rishi Sunak delivered the Government’s Spring Statement 2022 on Wednesday 23rd March. Take a look at the key points and as we near the start of the new tax year, please talk to us about any of the changes and how they may affect your business, we are here to support you on 01384 376964.
On 27th October 2021, the Chancellor delivered his third Budget in conjunction with the Public Spending Review. National Living Wage Increased to £9.50 per hour An increase in the hourly rate for the National Living Wage (NLW) which was greater than inflation for those aged 23 or over, to £9.50…