Resources

UK government budget releases and other important statutory publications. Please contact us here if you have any queries.

2024 Resources

Spring 2024 Budget

Released March 2024 by Jeremy Hunt
The Spring budget maintains previous tax decisions with new updates, notably impacting personal tax rates, National Insurance contributions, chid benefit thresholds, Capital Gains Tax, and VAT regulations, aimed at influencing both personal ad business finances.

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Summary tax rates 2024/2025

Based on Spring Budget released in March 2024 and then updated for releases in the October 2024 Autumn Budget.

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2024/2025 Tax facts

Guide for all taxes covering 2024/2025

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Efficient Director's Salary for 2024/2025

The most tax-efficient way to take an income from your own limited company is normally through a combination of, a low salary and dividend payments.
This is a guide as to what the optimum salary and dividends split might look like.

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Autumn 2024 Budget

Released October 2024 by Rachel Reeves.
This is the first budget delivered by a labour leader since 2010 and includes major changes to Employers National Insurance rates and thresholds, changes to National Minimum Wage and VAT on private school fees.

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2023 Resources

Autumn 2023 Budget

Released November 2023 by Jeremy Hunt
Note: While most tax rates and allowances had been previously set in the Spring budget and remain unchanged, there are significant updates worth noting. These include a cut to employee’s National Insurance Contributions (NICs) effective from 6 January 2024, and a reduction in self-employed NICs starting 6 April 2024.

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Spring 2023 Budget

Released in March 2023 by Jeremey Hunt
Note: A release that reinforces announcements made back in the Autumn budget.
Basic rate of income tax to remain at 20% and additional rate at 45% for 2023/2024.
Most tax rate bands frozen at current levels until 5 April 2028.
Corporation tax to increase to 25% from 1 April 2023.

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Summary of tax rates 2023/2024

Based on Spring Budget released in March 2023

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Change of Basis Period

For unincorporated businesses and LLP’s effective 2023/2024
For businesses (not Ltd) that do not have a 31 March or 5 April year end.
In 2023 (A transitional year) the basis of assessment is the current year basis period profits, plus the transitional period profits that run to 5 April 2024.

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2022 Resources

Spring 2024 Budget