In Tuesday’s Spring Forecast, Chancellor Rachel Reeves presented the latest economic and fiscal forecast from the Office for Budget Responsibility (OBR), providing an updated outlook for the UK economy. There were no major new tax or spending announcements, in line with the government’s focus on stability and growth. The OBR [...]
With so much pre-Budget speculation, we were expecting a long wait for the detail - but events moved faster than anyone anticipated. In an unprecedented slip, the Office for Budget Responsibility (OBR) accidentally published its Economic and Fiscal Outlook around an hour before the Chancellor, Rachel Reeves, delivered her Budget speech. [...]
Forty billion pounds of tax rises represents one of the very largest tax rising Budgets outside of a time of recession, with Rachel Reeves announcing a compendium of changes aimed at businesses and higher tax payers. A penny off a pint and frozen fuel duty will be small comfort for [...]
Chancellor Jeremy Hunt has just finished delivering his Spring Budget 2024, in which he said the Conservatives have a plan to 'grow the economy'. He confidently stated that his Budget will "unleash people power and put this country back on the path to lower taxes. Growth up, jobs up, taxes [...]
Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. Driving business investment The Chancellor announced a £27 billion transformation of capital allowances from April this year, which will [...]
The increase in Corporation Tax in April 2023 was announced back in the March 2021 Budget, but what does this mean for small business owners? In this blog we explore what’s going to change, what you need to be aware of, and how to prepare. First things first – what [...]
Jeremy Hunt, The Chancellor of the Exchequer, has today scrapped the majority of tax cut plans that were announced in the government's ‘growth plan’ mini-budget by Kwasi Kwarteng on 22 September 2022. As part of his ‘Growth Plan’, Kwarteng had set out a number of tax cuts designed to support [...]
The mini budget – an overview The (not so) mini-budget delivered by new Chancellor, Kwasi Kwarteng last Friday, had a lot more in it than anyone expected, and lots of great news for small businesses. Here are the headlines: Corporation Tax planned increase from 19% to 25% has been scrapped [...]