Spring Budget 2024
Jeremy Hunt’s second full budget was very clearly delivered in the shadow of a general election, with the speech peppered throughout with partisan comments, and policies designed to put the Conservative Party on the front foot with the electorate. The chancellor explained that, after the difficulties of the last few years, the economy is turning…
READ MOREWebinar recording – Autumn Statement 2023: what the announcements mean for you
Thank you to all those who were able to join us at the Autumn statement webinar where our Head of Tax, Tim Stovold together with Tax Partner Melanie Reed and Tax Director Katy Shaw, analysed the Chancellor’s announcements and summarised and explained what they mean for you. Read or watch our Autumn Statement 2023 summary…
READ MOREAutumn Statement 2023
The Chancellor of the Exchequer delivered a far more positive and optimistic Autumn Statement than would have been expected even a few weeks ago. With a recent fall in inflation figures, and in light of improved debt and borrowing forecasts, the Chancellor focused on the economic progress made this year, and plans to use his…
READ MORESpring Budget 2023
Jeremy Hunt became only the second of the five most recent Chancellors of the Exchequer to deliver a full Budget. While he asserted the need to remain vigilant in the face of the threat of inflation and the burden of national debt, the Chancellor was confident that, having taken the decisions he took in the…
READ MOREAutumn Statement 2022
After the former Chancellor Kwasi Kwarteng’s Growth Plan on 23 September 2022, Jeremy Hunt’s appointment on 14 October, the reversal of many of the Growth Plan measures on 17 October and a new Prime Minister on 25 October, many were hoping for a relatively low-key Autumn Statement. This wish was largely granted as, while the…
READ MOREAutumn Statement 2022: impact on global mobility
The Chancellor announced in the Autumn Statement a general increase in employment tax costs. Organisations with internationally mobile workforces should consider how they are impacted. Below we explore some of the consequences of the Autumn Statement on globally mobile employees: Income tax and national insurance (NIC) The biggest announcement was the decrease in the level…
READ MORESpring Statement 2022
The Chancellor of the Exchequer’s Spring Statement was intended to be a low-key affair, with the main fiscal event of the year due to be held in the Autumn. Against the backdrop of the war in Ukraine and the effects it has had in exacerbating the cost-of-living crisis, however, there were demands on the Chancellor…
READ MOREAutumn Budget 2021: Real Estate & Construction Sector
The Autumn Budget 2021 was delivered by the Chancellor of the Exchequer last week. He acknowledged there will still be challenging months ahead but a quicker recovery from the pandemic is now expected. He took the opportunity to announce significant increases in spending, without announcing any significant new tax rises. Below, we have highlighted the…
READ MOREAutumn Budget 2021: Creative sector tax reliefs – rates of relief
The Chancellor announced in the Autumn Budget 2021 a temporary increase in the rate of certain creative sector tax reliefs. These increases are for a limited period only and are intended to kick-start activity in these sectors post-Coronavirus. The changes are: The rate of Theatre Tax Relief for non-touring productions is to be increased to…
READ MOREAutumn Budget 2021: Corporate & Business Tax
The announcements made by the Chancellor today were a mixed bag. They include sensible enhancements to categories of qualifying expenditure for research and development tax reliefs, increased reliefs for companies in creative sectors that have suffered as a result of Coronavirus, clarification of the Residential Property Developer Tax, and several other changes. It is interesting…
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