08/03/2024
⭐ Highlights from the Spring Budget 2024 ⭐
📌 NIC rate reduced to 8% for employees and 6% for self-employed from 6 April 2024
📌 High-Income Child Benefit charge to be reformed from April 2026 to look at family income, but from 6 April 2024, the threshold will change from £50,000 to £60,000
📌 Higher Rate of CGT for residential property cut to 24% from 28% from 6 April 2024
📌 VAT registration threshold up to £90k from 1 April 2024
📌 From 1 June 2024, Multiple Dwellings Relief for SDLT to be abolished
📌 Furnished Holiday Lets abolished from 6 April 2025
📌 Additional UK individual savings account (ISA) will be created with a £5,000 allowance in addition to the current £20,000 ISA limit.
📌 From 6 April 2025, the existing regime for non-domiciled individuals will be replaced with a new relief on foreign income and gains for the first four years of UK tax residency