You are using an outdated browser. Upgrade your browser today for a better experience of this site and many others.
Coronation Parade, 42 Cannon Lane, Pinner, Middlesex HA5 1HW
Call 020 8429 3636 - email excellence@dewanis.com
Chancellor Jeremy Hunt delivered his 'Budget for Long Term Growth' on Wednesday 6 March 2024.
Chancellor Jeremy Hunt delivered his 'Budget for Long Term Growth' on Wednesday 6 March 2024. His speech promised 'more investment, more jobs, better public services and lower taxes'.
The Chancellor made further changes to National Insurance contributions (NICs), following the cuts made in the Autumn Statement 2023. The rates for NICs will be cut further for both employees and the self-employed from 6 April 2024.
There was also a cut in the higher rate of Capital Gains Tax on residential property disposals and the creation of a new ISA allowance to encourage investment in promising UK businesses.
The Chancellor has responded to pressure from business groups by raising the threshold for VAT registration to £90,000 and announcing his intention to extend Full Expensing to leased assets.
The Chancellor made his cuts possible with a series of tax-raising measures. These included a new regime for non-doms, the abolition of the Furnished Holiday Lettings tax regime and Multiple Dwellings Relief, alongside a new duty on vaping and an increase in tobacco duty.
The government has announced an extra £51 million in new funding to bring HMRC's phoneline service back up to the published target of 85% of calls to its advisers being answered.
UK adults face a significant shortfall in their pension savings at retirement compared to what they wanted to retire on, according to research from Standard Life.
The UK economy grew by 0.6% between January and March, according to figures from the Office for National Statistics (ONS).