2024–25—Fiscal events including Budget

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This Overview guides you to core materials on the 2024–25 fiscal events, including the Budget, and the resulting legislation, HM Treasury statements, OBR forecasts and HMRC guidance.

Fiscal events shape the UK tax framework, setting rates, thresholds, reliefs and anti - avoidance measures. Measures may take immediate or staged effect: some are given temporary statutory authority on Budget Day under the Provisional Collection of Taxes Act 1968, with permanence via the Finance Bill and Royal Assent, while others are implemented by secondary legislation.

Practitioners should track effective dates and transitional provisions, interactions across direct taxes, NICs and VAT, and compliance changes affecting payroll, VAT accounting and Self Assessment. Headline issues for 2024–25 include reductions to main NICs rates from April 2024, changes to the High Income Child Benefit Charge, the increase to the VAT registration threshold, the abolition of Stamp Duty Land Tax multiple dwellings relief (England and Northern Ireland), and the proposed replacement of the remittance basis with a residence - based regime from April 2025. Each requires careful review of commencement rules, anti - forestalling provisions and HMRC guidance.

Devolved taxes (Scottish and Welsh income tax,...

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