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Spring Budget 2024 Introduction

The early trailers in January 2024 for what is probably Chancellor Jeremy’s Hunt’s last ‘fiscal event’ featured Prime Minister Rishi Sunak promising “more to come” on tax cuts.

Request flexible working rights from day one

From 6 April, employees now have the right to request flexible working from their first day at work. However, the right is still only to make a request and employers are under no obligation to approve it.

Buy-to-let owners selling up

Changes to capital gains tax on UK residential property sales, including a 4% rate cut but lower annual exempt amount.

Deductibility of training costs

HMRC has recently published guidance to provide greater clarity about the tax deductibility of training costs for the self-employed.

How much does retirement cost?

Each year since 2019, the Pensions and Lifetime Savings Association (PLSA) has set about answering the question of how much retirement costs for couples and single retirees.

Analysing the Spring Budget Impact:

What was almost certainly the last Budget before the election was a serving of the widely expected, sprinkled with a handful of small surprises.

Personal Taxation

Here is a quick overview for you to view personal taxation for 2024-5 compared with 2023-4. Main personal allowances and reliefs 2024/25 2023/24 Personal allowance* £12,570 £12,570 Marriage/civil partners’ transferable allowance £1,260 £1,260 Married couple’s/civil partners’ allowance at 10%† – […]

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