Watch out for the Capital Gains Tax (CGT) trap! CGT has risen significantly recently, cuts to the tax-free allowance & an increase in the rates payable on qualifying gains - read our full article looking at the strategies for reducing liability to the tax: https://t.co/XOUmyc749e
On education, Reeves says that earlier this week the education secretary announced more than ยฃ600m to train up to 60,000 more construction workers. This includes 10 new technical excellence colleges across every region of the country, she adds. #SpringStatement#ConstructionJobs
Help build over 1.3 million homes in the UK within the next five years. Chancellor says this will take Labour within "touching distance" of its promise to build 1.5 million homes in England this parliament, she says.
Defence spending will increase to 2.5%, by reducing overseas aid to 0.3% of gross national income.
Reeves says this will "save ยฃ2.6bn in day-to-day spending in 2029-30". #SpringStatement
Universal credit standard allowance increase from ยฃ92 per week in the financial year 2025/26 to ยฃ106 per week by 2029/30 - while the Universal Credit health element will be "cut by 50% and then frozen for new claimants". #SpringStatement#accountants#cardiff
Reeves says the OBR, which assesses the health of the UK's economy, estimates benefits changes unveiled last week will save ยฃ4.8bn in the welfare budget #springbudget2025
Important Payroll Changes for Businesses - Avoid Fines and Stay Compliant - Payrolling of benefitsย becoming mandatory replacing the traditional P11D submission process. Read full article here: https://t.co/WfUIU4JVR2 #payroll#HMRC#advice#accountants#cardiff