With an election looming and a change of government looking likely later this year, Jeremy Hunt took to the dispatch box in March to deliver his Spring Budget in a last-ditch attempt to change the Tories’ fortunes.
The higher rate of capital gains tax (CGT) for residential property disposals will be cut from 28% to 24% from 6 April 2024.
The Chancellor announced in the Budget that Multiple dwellings relief (MDR) will be abolished for transactions which complete, or which substantially perform, on or after 1 June 2024.
The threshold for earnings above which you have to pay back some or all of your child benefit will be increased from 6 April 2024.
Two new savings products have been announced, aimed at supporting growth of UK companies and encouraging a culture of saving.
The remittance basis tax relief offered to non-UK domiciled individuals (non-doms) will be removed and replaced with a simpler residence-based regime from 6 April 2025.