Autumn Statement 2023 On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses. In addition, there were...
This afternoon, the Chancellor Jeremy Hunt announced his Autumn Statement. Below we have highlighted some of the key tax announcements made by the Chancellor. Employee National Insurance Contributions (NICs) cut The main rate of Class 1 employee NICs will be...
With house prices soaring, more estates are now being subject to inheritance tax as the average inheritance tax bill reaches £214K. In the 2020-21 tax year, inheritance tax was charged on 27,000 estates. An increase of 4,000 compared to the previous year. This raised...
Chancellor Jeremy Hunt will deliver his 2023 Spring Budget on Wednesday 15th March 2023. What time is the Budget? The Budget is expected to take place at about 12:30 pm, straight after PMQs. The first part of the statement typically begins with a review of the...
What is being delayed? HMRC has announced that plans to implement digital tax reporting for unincorporated businesses and self-employed individuals and landlords in April 2024 will be delayed until April 2026. Why has MTD been delayed? HMRC have said that businesses...
The Chancellor, Jeremy Hunt, has given his first Autumn Statement. We have highlighted below some of the key tax announcements made by the Chancellor: Personal tax thresholds The Chancellor has announced that personal tax thresholds will be frozen for a further...
Autumn Statement 2022 On 17 November 2022, the government undertook the third fiscal statement in as many months, against a backdrop of rising inflation and economic recession. The Chancellor laid out three core priorities of stability, growth and public services. The...
The Chancellor of the Exchequer Jeremy Hunt will deliver his Autumn Statement on Thursday 17th November 2022. This is postponed from the previously planned date of Monday 31 October 2022. What time is the Autumn Statement? The Autumn Statement will be...
Chancellor brings forward further medium-term fiscal plan measures As the saying goes, a week is a long time in politics. However, recent events have been unprecedented. At the Mini Budget a new Prime Minister and Chancellor launched a new agenda, ‘The Growth Plan’....
Following the recent appointment of the new Prime Minister, Liz Truss. There has been a cabinet reshuffle with Kwasi Kwarteng appointed Chancellor. Following his appointment, the new Chancellor announced a ‘Mini-budget’ which took place this morning. This was one of...
The Government has released draft legislation which will ease the tax rules for many divorcing couples from April 2023. The changes follow recommendations made by the Office of Tax Simplification (OTS) in May 2021. What are the proposed changes to tax rules...
HMRC have announced that they will be waiving late filing and late payment penalties by one month for Self-Assessment taxpayers. This is to give them additional time to complete their 2020/21 tax return and pay any due tax if needed. However, HMRC are still...