As a business owner or self-employed individual, staying informed about the latest fiscal policies and budget changes is crucial for making well-informed decisions.
On 6 March 2024, Chancellor Jeremy Hunt presented his Spring Budget to Parliament.
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.
In this video, we aim to provide clarity amidst the confusion surrounding the new budget update.
If you want to find out more details and an in-depth analysis of the Budget 2024 announcements, we also have a comprehensive blog post that covers all the key highlights and changes, which you can read here.
