Spring Budget 2024
Chancellor Jeremy Hunt has unveiled the contents of his Spring Budget 2024 in the House of Commons, with a budget for long term growth, helping not just with cost of living support but with permanent cuts in taxation
Some of the key announcements include a reform to the High Income Child Benefit Charge, an NHS Productivity Plan, an increase to the repayment period for new loans from 12 months to 24 months, an end to a £90 charge for debt relief orders and a six-month extension to The Household Support Fund. Alcohol and fuel duty will also remain frozen until 2025.
He has also promised a lift on the VAT threshold for small businesses (SMEs) by providing £200m of funding to extend the Recovery Loans Scheme as it transitions to the Growth Guarantee Scheme. As well as an increase to VAT registration threshold from £85,000 to £90,000 from 1 April, the first in seven years.
Webinar: Spring Budget
AIA is hosting a free webinar with Tim Keeley on Monday 11th March, which will cover the key announcements of the Spring Budget, including a comprehensive summary to help you understand what the announcements mean for you and your clients.
