Spring Budget 2024: At a Glance!📣
- Jada Maforimbo
- Mar 7, 2024
- 1 min read
Yesterday afternoon, Jeremy Hunt announced his financial update and here are the main points!
1. VAT Registration threshold increased from £85,000 to £90,000 From 1st April 2024, he says it would help 'tens of thousands of businesses'.
2. From 6th April 2024, Employee’s National Insurance contributions will be reduced from 10% to 8%, this comes on top of a 2p cut in the autumn statement in November, which reduced the rate from 12% to 10%.
3. Self Employed National Insurance contributions are reduced from 8% to 6%, From 6th April 2024.
4. Capital Gains Tax on residential property is reduced from 28% to 24%.
Get in touch with us if you have any questions or would like to know more about what we do!📥
