Tag Archives: Budget

Updates to National Insurance Contributions (NICs) and Tax Policies – Spring Budget April 2024

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Changes to National Insurance contributions (NICs) and tax policies have been announced by the Chancellor. Take a look at the upcoming adjustments, including reductions in NICs rates for employees and the self-employed, changes to Capital Gains Tax rates, the introduction of a new British ISA allowance, updates to VAT registration thresholds, and plans to extend Full Expensing to leased assets. These changes are effective from 6 April 2024 and aim to support individuals and foster investment in promising UK enterprises.

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2023 Autumn Statement: HB Accountants’ Summary

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On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. The Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses. In addition, there were significant statements relating to National Insurance changes and also the reform of work-related state benefits.

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Budget 2023: key points you need to know

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UK Chancellor Jeremy Hunt gave his Spring Budget yesterday telling MPs “the OBR is now forecasting that there will be no recession”. Worth noting, no extension was given to the super deduction tax which WILL now end 31 March ’23 and the planned Corporation Tax rate increase IS going ahead from April ’23

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2022 Mini Budget Update: Our Summary

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The strong theme of the new Chancellor, Kwasi Kwarteng’s first budget has been the stimulation of growth. The mini-budget 2022 (not so mini) is designed to boost economic growth through tax cuts, which will be paid for by increasing the UK’s national debt.

UPDATE 3 October: *since the mini budget on Friday 23rd September, the government have made a U turn on abolishing the 45% high rate of income tax

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