Posted by jonathanfullarton - March 7, 2024 2:16 pm Spring Budget 2024

Yesterday, Chancellor Jeremy Hunt delivered his Budget to the House of Commons, in what will be his last budget before the election.

As you would expect, the positives were accentuated, with further cuts to National Insurance being one of the key announcements. However, long-running threshold freezes were not mentioned.

Perhaps one of the surprises was the changes to the higher income child benefit charge, which will no doubt be welcomed by many tax payers. Similarly, the small increase in the VAT threshold will be welcomed by some small businesses.

Will the budget have the desired impact ahead of the Autumn election? Only time will tell.

For a detailed summary of the Budget, please read our Budget report below.

You can view the report online or download a pdf.

Should you require any further advice on any matters announced within the Budget then please contact your local MFW office where our teams will be pleased to help.

Please note: Our Budget update has been prepared ahead of the release of all the technical information relating to these changes and is therefore, designed to provide an overview of the Spring Budget and should not be solely relied upon in making any personal or business decisions. Many of the details contained herein should therefore only be used for guidance purposes and the help of a professional should be sought who will consider your own unique circumstances and the best approach for you.