In a year where a general election is expected the Chancellor referred numerous times to the Budget being a Budget for long term growth and he finished his speech by saying ‘growth up jobs up and taxes down’.
His speech also explained how the tax changes were aimed at making the tax system ‘simpler and fairer’. Although abolishing a number of reliefs will make things simpler given the backdrop of the main and small profits rates of corporation tax remaining the same (at 25% and 19% respectively) the personal allowances and income tax bands remaining frozen (and being expected to remain frozen for a few more years) and the annual exempt amount for capital gains tax purposes reducing by half to £3 000 from 6 April 2024 it is not clear whether the electorate will experience the...
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In a year where a general election is expected the Chancellor referred numerous times to the Budget being a Budget for long term growth and he finished his speech by saying ‘growth up jobs up and taxes down’.
His speech also explained how the tax changes were aimed at making the tax system ‘simpler and fairer’. Although abolishing a number of reliefs will make things simpler given the backdrop of the main and small profits rates of corporation tax remaining the same (at 25% and 19% respectively) the personal allowances and income tax bands remaining frozen (and being expected to remain frozen for a few more years) and the annual exempt amount for capital gains tax purposes reducing by half to £3 000 from 6 April 2024 it is not clear whether the electorate will experience the...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
