Budget Summary Articles

Budget summary 6 March 2024

Today, Chancellor Jeremy Hunt unveiled his second Spring Budget. It offers insights into the state of the UK economy and outlines the government's fiscal strategies for the upcoming year. As the general election looms, many are curious to learn about any incentives or perks the government has introduced for both the electorate and businesses. The impact of tax changes announced are summarised...

Spring Budget Summary 2023

The Chancellor of the Exchequer, Jeremy Hunt, delivered his first Spring Budget to parliament on Wednesday 15th March. Opening his statement with; "I report today on a British economy which is proving the doubters wrong." In his speech, the Chancellor expressed his confidence in the UK economy and its ability to bounce back from the burden of national debt and potential inflation. The...

Autumn Statement Summary

The new Chancellor of the Exchequer, Jeremy Hunt, has delivered his Autumn Statement to the House of Commons against a backdrop of a worsening cost of living crisis and with confirmation from the Office for Budget Responsibility OBR that the UK has now entered into a recession. The OBR has stated that the economy is still forecast to grow by 4.2% this year. GDP is then predicted to fall by 1.4%...

Connected persons for tax purposes

The definition of a connected person for tax purposes varies. A statutory definition of “connected persons” for Capital Gains Tax...

Tax and employee share schemes

There are a number of government approved share schemes which offer various incentives to employees. The rules of the schemes...

Tax relief for training costs

If you are self-employed it is important to know if an expense is tax allowable. Any allowable costs can be...

Post cessation transactions

Tax relief may be available for post-cessation expenses of a trade. To be an allowable post-cessation expense the trade must...

Reclaiming pre-trading VAT

There are special rules that determine the recoverability of VAT incurred before a business registered for VAT. This type of...

Are we unpaid tax collectors?

Business owners often refer to VAT as if it were a cost to their business regardless of their VAT position;...

Child Benefit for 16 – 19 year olds

More than a million parents will receive reminders to extend Child Benefit for their teenagers if they are continuing their...

by Andrew Stanton

Mitigating Labour VAT on private school fees

Explore the potential Labour VAT threat on private school fees and prepayment strategy to swerve the VAT risk.

Multiple Dwellings Relief for SDLT

It was announced as part of the Spring Budget 2023 that Multiple Dwellings Relief (MDR) was being abolished. This change...
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