Spring Budget 2024
Where to find our written commentary and recordings of our live events
Written commentary and recorded live events
In the Spring Budget on 6 March 2024, Jeremy Hunt, the Chancellor of the Exchequer, used what may be his last set piece parliamentary economic statement prior to the forthcoming general election to set out some major personal tax changes. Businesses (except those in the energy sector) have little to worry about this time around. The Budget was aimed at workers and families with National Insurance cuts and changes to the High Income Child Benefit Charge. An announcement on the abolition of the existing non domicile (non-dom) regime perhaps goes further than expected and a drop in the capital gains tax rate for residential property was a surprise. This article sets out where to find more detail in our written and recorded commentary on the Spring Budget.
Readers can find all our Spring Budget commentary on our dedicated external webpage. This includes recordings of our two live events:
- Our LinkedIn Live event hosted by Tim Sarson, KPMG in the UK’s Head of Tax Policy, on the afternoon of the Spring Budget to share our initial impressions; and
- Our webinar on 8 March 2024, where our experts took a deep dive into the full impacts of the Spring Budget.
We also published written commentary on 6 March, including a general overview and summaries of the implications for businesses, employers and individuals.
You can find further commentary on some of the key tax measures in the Spring Budget in this edition of Tax Matters Digest as follows:
- Extension of windfall taxes for oil and gas;
- Additional support for the creative industry sectors;
- Abolition of SDLT Multiple Dwellings Relief;
- Tax measures for Financial Services;
- Reduction to employee National Insurance Contributions;
- Reform of the Non-Dom regime; and
- Inheritance Tax based on UK residence
We have also included a round-up other measures likely to be of interest to businesses.
The next step in the tax policy cycle is the publication of the Spring Finance Bill which is likely to be published soon. At the time of writing, an exact date for publication had not been announced but the first reading in Parliament is scheduled for Wednesday 13 March 2024 so it is likely to be very soon after that. We will include commentary on the Bill in a future edition of Tax Matters Digest. It has also been confirmed that the Government will make a further set of tax administration and maintenance announcements on 18 April 2024 at a ‘Tax Administration and Maintenance Day’.
