Budget 2025 – an unprecedented Budget
The run up to the Budget was unprecedented in many ways – so many briefings (and counter briefings), a lot of kite-flying, u-turns on policies which had not themselves been formally announced and then the release of the Office for Budget Responsibility’s report before the Chancellor even stood up to start her speech. We always […]
Budget 2025 – business tax round up
In addition to the changes to pension salary sacrifice and incorporation relief there were a number of the measures announced which will impact upon businesses: Capital allowances A new 40% first year allowance for expenditure incurred on or after 1 January 2026 will be available to cover expenditure where the annual investment allowance or full expensing […]
Spring Budget 2024 – property tax has never been so popular!
A number of announcements were made in respect of property taxation, many of which were suggested as a way to influence taxpayers. Too much can be a bad thing So, the theory goes, if you increase tax rates then revenue increases, but there comes a point when the increase influences taxpayers and revenue begins to […]
Autumn Statement 2023 – Growth, growth, growth…
As ever, in the last couple of weeks there has been a huge amount of speculation about what may or may not be announced at the Autumn Statement 2023 – abolition of inheritance tax; increase in the inheritance nil rate band; a stamp duty land tax holiday; a cut in the rate of income tax… […]
Autumn Statement 2023 – Stability for companies to incentivise investment
In addition to the proposed changes to R&D and speculation around the Government’s plans for shareholders of private companies, there wasn’t much else to note in this space other than the extension of the full expensing provisions. Full expensing forever more Introduced at the Budget 2023 as a temporary relief from 1 April 2023 to […]
Budget 2023 – everywhere, but not quite everything
In what was the first (and hopefully last) budget of 2023, there was a focus on growth being supported by the Chancellor’s four pillars – enterprise, employment, education and everywhere… not quite everything everywhere all at once, but there were some promises to review and reform the self-assessment for small businesses and sole traders which […]
Budget 2023 – spend and save for businesses
With the upcoming increase in the rate of corporation tax, the Chancellor was under pressure to do something to take the edge off it. An incentive to invest The main move was to incentivise business investment with the announcement of a full expensing policy for qualifying plant and machinery – this was both in an […]
Autumn Budget 2022 – the mini-budget that packed a punch!
Today was always going to be an interesting day – a new Government setting the tone of how they intend to govern, the ongoing cost of living crisis, the recent unlimited commitment to support taxpayers with their energy bills and talk of the UK heading towards (if not already in) recession. It was clear that […]
Budget 2021 – what’s the meaning of a super-deduction?
During his speech, the Chancellor had everyone scratching their heads over his announcement of a super-deduction for investment – how super would it be, what is meant by investments and who would qualify? Now the wait is over, with the release of some further details – although we have to wait for the Finance Bill […]