James Foster

Cofounder at @mightyaccounts - an accounting tech solution for freelancers & contractors. Interested in tech, finance & everything in between...

[James Foster @JDFosterMighty]

We'll await to digest the full document, and in an unprecedented order, to hear from the Chancellor to talk through her Budget.

[James Foster @JDFosterMighty]

I was planning on live tweeting the #Budget2025, but pretty incredibly, an OBR document has been leaked containing the headlines from the Budget before Rachel Reeves has announced it. So with that in mind, here's the headlines...

[James Foster @JDFosterMighty]

Forms of wealth/mansion taxes have been much debated over the previous months and we will see one.

The Chancellor is set to announce that there will be a high value council tax surcharge on homes over £2 million. We don't know the specifics on this yet.

#Budget2025

[James Foster @JDFosterMighty]

Stolen from @cjgustafson's newsletter, but:

[James Foster @JDFosterMighty]

Well, that lasted long - HMRC have U-turned on the below decision after only 24 hours. Definitely the right call, but the fact they ever thought it was a good idea to begin with isn’t a great look:

[BBC Breaking News @BBCBreaking]

HMRC reverses decision to close self-assessment phone helpline between April and September, after criticism https://t.co/Tvh0NaUuZV

[James Foster @JDFosterMighty]

Seems I jumped the gun with this tweet:
-In April 2026, HICBC will change from an individual charge to a household-based system.
-There will be updates to the HICBC's threshold, with the £50k threshold increasing to £60k and with the upper taper limit increasing to £80k.

[James Foster @JDFosterMighty]

Many would have been hoping for changes (and were speculating) of the High Income Child Benefit Charge within this budget, but Jeremy Hunt has discussed childcare and moved on without changes announced.

#SpringBudget2024

[James Foster @JDFosterMighty]

And on that note, here it is:

#SpringBudget2024

https://t.co/fxuHfby1Gp

[HM Treasury @hmtreasury]

Click the link below to read today’s Spring Budget in full

👇

https://t.co/9BPXXvBqQh

[James Foster @JDFosterMighty]

We're now underway with the #SpringBudget2024, a Budget that @Jeremy_Hunt has introduced as a Budget for "long-term growth".

I'll be live tweeting the key points and policies below as they are delivered...

[James Foster @JDFosterMighty]

And that concludes the #SpringBudget2024, as ever, the devil is in the detail, so we'll await the full white paper!