Spring Budget 2024 date confirmed for 6 March

Chancellor Jeremy Hunt will deliver the 2024 Spring Budget on 6 March, the government has confirmed.

The Budget will include the government's tax and spending plans as well as new growth and…

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Tax cuts may have to be scrapped due to 'economic bind', warns IFS

Tax cut promises may need to be scrapped as a result of the UK being in an 'unfortunate economic and fiscal bind', the Institute for Fiscal Studies (IFS) has warned.

The next government…

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The National Minimum Wage is the single most successful economic policy in a generation, says think tank

The introduction of the UK's National Minimum Wage (NMW) in 1999 is the single most successful economic policy in a generation, according to the Resolution Foundation.

The NMW has increased…

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Wales reduces LTT rate

On 27 July, the Welsh government reduced the rate of Land Transaction Tax (LTT) following the cuts made to SDLT and LTT across the rest of the UK.

LTT is payable by the purchaser of residential…

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Ministers announce new grants for businesses affected by local lockdowns

Businesses in England that are required to shut because of local interventions will now be able to claim up to £1,500 per property every three weeks.

To be eligible for the grant, a business…

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HMRC confirms MTD for corporation tax to be mandated from 2026

In a new consultation HMRC has confirmed that Making Tax Digital for corporation tax (MTD for CT) will not be implemented until 2026 'at the earliest'.

The consultation considers how the principles…

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Individuals urged to remain vigilant when making festive charitable donations

Action Fraud has warned the public to remain vigilant when making festive charitable donations as the number of scams rises.

Figures published by Action Fraud showed that £350,000 in charitable…

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Scottish Land and Buildings Transaction Tax

As part of the Scottish Budget, Finance Secretary Kate Forbes also announced changes to Land and Buildings Transaction Tax (LBTT) which apply from 1 April 2021.

The Scottish Government's…

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Borrowers of Bounce Back loans given six more months for repayments

Businesses that took out government-backed Bounce Back loans to get through the coronavirus (COVID-19) pandemic will now have greater flexibility to repay their loans, the government has announced.

The…

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