Spring Budget 2024 – Tax Measures
07 March 2024
On 6 March 2024, the Chancellor of the Exchequer, Jeremy Hunt, presented his Spring Budget.
The Spring Budget is likely to be the last before the UK General Election later this year (or early next).
The main tax changes are detailed below:
Business and Corporate Taxes
Full expensing
Draft legislation has been announced which will extend the scope of ‘full expensing’, which was introduced in the Spring Budget 2023, to included assets for leasing.
Value Added Tax (VAT)
Registration threshold
The turnover threshold at which businesses must register to pay VAT will rise from £85,000 to £90,000 from April 2024.
Click on download link below for more details: