Houses of Parliament

The Spring Budget 2024 – Download Summary of the Key Tax Measures Announced

On 6 March 2024, Chancellor Jeremy Hunt presented his Spring Budget to Parliament. Download our summary of the measures announced and what it means for you.

On 6 March 2024, Chancellor Jeremy Hunt presented his Spring Budget to Parliament. In the knowledge that the government must hold a general election before 28 January 2025, this was a Budget designed to restore confidence and win voters.

But on the heels of Britain entering a recession and downgraded Office for Budget Responsibility (OBR) forecasts, the Chancellor had his work cut out.

Headlines included further cuts in National Insurance Contributions for workers and the self-employed, a slight increase in the VAT registration threshold and an increase in thresholds to reduce the number of people affected by the high-income child benefit charge.

There has also been a cut in capital gains tax for higher earners disposing of residential property. However, income tax rates and thresholds remained static and inheritance tax continues to apply to the largest estates.

Below, you can download our summary of the key tax measures announced.

If you have a question about any of the details in the document below, please contact us and we will be happy to assist you.

Contact Leonherman’s Accounting and Tax Experts

If you have a question about any of the measures announced by the Chancellor in The Spring Budget 2024 and how they might affect you or your business, please get in touch with us and we would be happy to help.

Call us on 0161 249 5040, or email: partners@leonherman.co.uk

Important Disclaimer

This material is published for client information. It provides only an overview of the regulations in force at the date of publication, and no action should be taken without consulting the detailed legislation or seeking professional advice. No responsibility for loss occasioned by any person acting or refraining from action as a result of the material can be accepted by Leonherman.

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