The Budget
The Budget is the UK Government's annual financial statement and review of levels of taxation. It also includes the Government's future financial strategy and economic forecast.
Our Budget knowledge hub has been designed to keep up to date with any announcements and to help you have a better understanding about The Budget and any HM Treasury fiscal statements.
Our Budget knowledge hub focuses on any changes that may affect business owners, sole traders, contractors, landlords and self-employed individuals.
We also post our summary of the changes that affect you or your small business’ finances during the evening of any budgets, while our Twitter feed @TaxAssistUK will also include all the latest information as it happens during the Chancellor's announcement.
We've got you covered
Double cab pick-ups to be taxed as cars
More details are starting to emerge following the Autumn Budget, including changes to double cab pickup legislation.
Find out moreAutumn Budget 2024 summary and highlights
The UK’s first female Chancellor of the Exchequer, Rachel Reeves, delivered her inaugural Autumn Budget to the House of Commons on Wednesday 30th October.
Find out moreWhat to expect from the Autumn Budget 2024
We look at what could be included on 30th October, when Rachel Reeves announces her first Budget as Chancellor of the Exchequer.
Find out moreE-invoicing consultation to be launched
The Government has announced the launch of a consultation on the wider use of electronic invoicing ‘e-invoicing’ in UK businesses.
Find out moreNew Labour Government announces date of its first Budget
Chancellor Rachel Reeves will unveil the first Budget under the new Government on Wednesday, 30th October.
Find out moreWhat will a new Government mean for you and your business?
Following a change in Government, we have reviewed the Labour Party manifesto, and produced a high-level summary of the key points that may affect you and your business.
Find out moreSpring Budget 2024 summary and highlights
The Chancellor of the Exchequer, Jeremy Hunt, delivered his Spring Budget to the House of Commons on Wednesday 6th March.
Find out moreSpring Budget confirmed for 6th March
Chancellor Jeremy Hunt has announced the Spring Budget 2024 will be presented to Parliament on 6th March 2024.
Find out moreScottish Budget 2024-25
Scotland’s Government has unveiled its draft tax and spending plans for the 2024-25 fiscal year, including a new income tax band targeting those earning between £75,001 to £125,140.
Find out moreThe Cash Basis: What did the Autumn Statement change?
The Government has considered feedback in relation to its consultation on the expansion and simplification of the cash basis for accounting.
Find out moreMaking Tax Digital for Income Tax: What did the Autumn Statement chang...
In November 2023, the Chancellor announced the Autumn Statement. While he did not mention Making Tax Digital in his speech, there have been some changes announced in the executive summary.
Find out moreAutumn Statement 2023 Summary and Highlights
The Chancellor, Jeremy Hunt, announced his second Autumn Statement to Parliament on Wednesday 22nd November, with a remit to bolster the UK economy and encourage fresh investment in businesses.
Find out moreThe announcements to expect in the Government’s 2023 Autumn Statement
Read the predictions and rumours for what will be announced in the Government’s 2023 Autumn Statement on 22 November.
Find out moreSpring Budget 2023 Summary and Highlights
Chancellor Jeremy Hunt announced his first Budget to Parliament on Wednesday, 15th March, as he aims to grow the UK economy.
Find out moreBudget 2023: Pension Tax Changes
As part of his Budget on 15th March, Chancellor Jeremy Hunt announced the following significant changes to the amounts individuals may save into their pensions.
Find out moreScottish Budget 2023-24
Deputy First Minister, John Swinney, has outlined the Scottish Government’s spending and tax plans for the 2023-24 financial year to Holyrood.
Find out moreAutumn Statement 2022 Summary and Highlights
Jeremy Hunt announced his first Autumn Statement as Chancellor of the Exchequer to Parliament on 17th November, in a bid to bring economic stability to households, businesses and the financial markets...
Find out moreNew Chancellor reverses most of the mini-Budget tax cuts
The new Chancellor of the Exchequer has brought forward the Government’s Medium-Term Fiscal Plan due on 31st October, overturning many of the measures within the ‘Growth Plan’ that was announced on 23...
Find out moreThe Growth Plan: How it affects the property market
The Government’s Growth Plan included a string of significant tax measures that are already having a significant impact on landlords, and the UK property market as a whole.
Find out moreBasic rate of income tax remains at 20%
In his Growth Plan statement on 23rd September, the Chancellor announced plans to cut the basic rate of income tax by 1% from 6th April 2023. However, on 17th October, the Government reversed course a...
Find out moreReversal of National Insurance and dividend tax increases
In a widely anticipated move, at the Growth Plan statement on 23rd September, the Chancellor announced further details of a reversal of planned increases in National Insurance contributions (NICs) and...
Find out moreIR35 - Repeal off-payroll working rules reversed
On 23rd September, the Chancellor announced that the off-payroll working rules, originally introduced for the public sector in 2017 and later expanded to the private sector in 2021, will be repealed f...
Find out moreCorporation Tax to remain at 19%
The Growth Plan statement on 23rd September confirmed the Government's plans for corporation tax rates from April 2023
Find out moreThe Growth Plan – Summary and Highlights
The Government unveiled its Growth Plan on Friday 23rd September, with a string of tax cuts at the heart of measures designed to stimulate the economy.
Find out moreSpring Statement 2022 scheduled for March 23rd
The UK Government’s Spring Statement for 2022 will be delivered by Chancellor of the Exchequer, Rishi Sunak, on Wednesday 23rd March.
Find out moreSpring Statement 2022 Summary and Highlights
The Chancellor of the Exchequer has presented his Spring Statement 2022 to the House of Commons, announcing a series of changes to help businesses and individuals as the cost of living and inflation s...
Find out moreNew rules and the Welsh Budget
There have been a number of recent announcements from the Welsh Government which have an impact on businesses and individuals in Wales.
Find out moreScottish Budget 2022-23
Finance Secretary Kate Forbes has outlined the Scottish Government’s spending plans for the 2022-23 financial year, which are designed to set Scotland “on a new ambitious path”.
Find out moreCapital Gains tax deadline extended to 60 days
In his Budget on 27th October, the Chancellor made some changes to the Capital Gains Tax reporting rules, relaxing the requirement that CGT reports and payments need to be made within 30 days of compl...
Find out moreThe Budget over Breakfast webinar
In this webinar held on Thursday, 28th October, we provided an overview of the announcements from the Autumn 2021 Budget.
Find out moreAutumn Budget 2021 Summary and Highlights
Rishi Sunak announced his third Budget as Chancellor of Exchequer to Parliament on Wednesday, 27th October.
Find out moreReforming UK Research & Development tax reliefs
In his Autumn Budget on 27th October, the Chancellor made much of improving Research and Development spending including the system of tax relief. But there is little detail about how this will work i...
Find out moreKey reforms to business rates announced in the Autumn Budget
Chancellor Rishi Sunak has confirmed a host of reforms to business rates in England, designed to support small businesses and ease the burden on the country’s high streets.
Find out moreRecovery Loan Scheme extended to June 2022
The Recovery Loan Scheme will provide Government-backed loans to businesses affected by COVID-19 until 30th June 2022.
Find out more2022-23 Scottish Budget set for 9th December 2021
Scotland’s Finance Secretary Kate Forbes will reveal the Scottish Government’s spending plans for the 2022-23 financial year, with the 2022-23 Scottish Budget scheduled for Thursday 9th December 2021.
Find out moreChancellor announces date for Autumn Budget
Chancellor Rishi Sunak has announced that the next Budget, will be held on 27th October.
Find out moreNational Insurance and dividend tax rises announced for social care re...
Prime Minister Boris Johnson has proposed a number of tax increases for taxpayers across the UK.
Find out moreThe new rules for trade loss relief explained
A temporary extension to the rules for trade loss relief, both for individuals and companies was announced by the Government in its Budget on 3rd March 2021.
Find out moreBudget 2021 Summary and Highlights
Chancellor Rishi Sunak used his Budget on 3rd March to outline the UK Government’s plans for taxation and COVID-19 support packages targeted at businesses and individuals during the economy’s phased r...
Find out moreNew Recovery Loan Scheme launches in April
With applications for the Coronavirus Business Interruption Loan Scheme and Bounce Back Loans ended, eligible UK businesses can now apply for a new Recovery Loan Scheme.
Find out moreBudget 2021: Self-Employment Income Support Scheme extended
In the Budget on 3rd March, further extensions were announced to the Self-Employment Income Support Scheme.
Find out moreFurlough scheme extended until the end of September
Chancellor Rishi Sunak has opted to extend the Coronavirus Job Retention Scheme (furlough scheme) until the end of September, as part of the Budget 2021.
Find out moreBudget 2021 – What will the Chancellor do?
As the Budget on 3rd March gets ever closer, there is increasing speculation around possible tax changes and the ways in which the Government can start to deal with the huge impact COVID-19 has had on...
Find out moreScottish Budget 2021-22
Scotland’s Finance Secretary, Kate Forbes, revealed the Scottish government’s provisional spending plans for the 2021-22 financial year to Holyrood on 28th January.
Find out moreThe Chancellor reveals the date of the next Budget
Chancellor Rishi Sunak has revealed that the next Budget will be held on 3rd March 2021.
Find out moreGovernment puts Job Support Scheme on indefinite hold as furlough sche...
The Coronavirus Job Retention Scheme has been extended until 31st March and the introduction of the new Job Support Scheme has been delayed.
Find out moreChancellor unveils Winter Economy Plan to protect jobs and businesses
Chancellor Rishi Sunak has outlined the UK Government’s Winter Economy Plan, the next stage of the economic support offered to small businesses and self-employed individuals affected by the ongoing CO...
Find out moreAutumn Budget cancelled for 2020 due to COVID-19 crisis
Plans for an Autumn Budget in the coming weeks have been scrapped by HM Treasury because of the impending second wave of coronavirus in the UK.
Find out moreChancellor reassures MPs over the prospect of tax rises
Amid reports of potential ‘historic’ tax grabs, Chancellor Rishi Sunak has moved to reassure Conservative MPs that a “horror show of tax rises with no end in sight” is not on the cards, despite having...
Find out moreTemporary cuts to Land and Buildings Transaction Tax in Scotland
The Scottish Government has followed suit with the UK Government by announcing a temporary cut to the country’s Land and Buildings Transaction Tax in a bid to stimulate Scotland’s housing market.
Find out more'Eat Out to Help Out' discount aimed at creating demand for hospitalit...
Employers in the hospitality sector have been given a “creative” boost by a new ‘Eat Out to Help Out’ discount.
Find out moreGreen Homes Grant unveiled in Summer Economic Statement
In a ‘win win’ move for homeowners and local businesses in England, Sunak also announced a new Green Homes Grant which will apply from September.
Find out moreStamp duty cut announced in Summer Economic Update
In the Summer Economic Update the Government announced a temporary change to the stamp duty rules in England and Northern Ireland, which will mean anyone purchasing a main home for under £500,000 will...
Find out moreVAT cut aimed at stimulating hospitality and tourism sectors
Chancellor Rishi Sunak has opted to cut the tax on sales in the UK’s hospitality and tourism sectors until 12th January 2021.
Find out moreEconomic plan for jobs and employers released
The Summer Economic Update was an opportunity to chart the course to recovery for tens of thousands of businesses, supporting existing jobs and incentivising the creation of new roles in the difficul...
Find out moreSummer Economic Update to drive new jobs and stimulate the economy
Chancellor of the Exchequer Rishi Sunak gave his Summer Economic Update to the House of Commons on 8th July, outlining a string of measures designed to stimulate and revitalise the UK economy followin...
Find out moreEmergency coronavirus budget statement pencilled in for early July
Chancellor Rishi Sunak is preparing to unveil an emergency budget statement next month to tackle the threat of millions of job losses due to the coronavirus crisis.
Find out moreBudget 2020 Summary and Highlights
Rishi Sunak delivered his first Budget speech as Chancellor of the Exchequer on 11th March, outlining the Government's plans for tax and spending during the 2020/21 financial year.
Find out moreIndividuals urged to be mindful of Budget 2020 measures
The first Budget of Chancellor Rishi Sunak's career includes a host of taxation measures that could have implications for your personal tax situation.
Find out moreBudget 2020 gives the UK business community a shot in the arm
Chancellor Rishi Sunak has introduced a number of initiatives to reassure businesses about the possible impact of Coronavirus, as well as unveiling broader measures designed to promote growth througho...
Find out moreSupport for employers in Budget 2020
The Chancellor of the Exchequer, Rishi Sunak, has moved to reassure business owners by announcing a range of measures to support employers in his inaugural Budget.
Find out moreEnhanced business rate reliefs in England announced ahead of Budget
The Treasury provided an early pre-Budget bonus for a string of small businesses in England with new business rate reliefs announced for entertainment venues such as public houses, music venues, cinem...
Find out moreTaxAssist champions small business issues with Chancellor ahead of Bud...
With just a few weeks until Budget 2020, TaxAssist Accountants has sought to put the everyday issues facing the UK's small business community on the radar of Chancellor, Sajid Javid.
Find out moreBudget 2020 - what to expect on 11th March
On 11th March, Rishi Sunak is set to deliver his first Budget speech as Chancellor of the Exchequer, outlining the Government's plans for tax and spending during the 2020-21 financial year.
Find out moreScottish Budget 2020-21
The Scottish Government's tax and spending plans for the 2020-21 financial year were unveiled in the draft Scottish Budget.
Find out moreEntrepreneurs Relief at risk in Budget 2020
Entrepreneurs' Relief, a valuable tax break for entrepreneurs, is reportedly under threat in the upcoming Budget 2020.
Find out moreScottish Budget 2020 to be announced on 6th February
Scotland's Finance Secretary Derek Mackay will unveil his tax and spending proposals for 2020-21 on Thursday 6th February - a month before the UK budget.
Find out moreChancellor sets Budget 2020 date for 11th March
Sajid Javid has confirmed the date of the Budget 2020 for 11th March.
Find out moreChancellor cancels Budget planned for 6th November
Chancellor of the Exchequer, Sajid Javid, has postponed the Autumn Budget 2019 scheduled for 6th November.
Find out moreChancellor announces Budget 2019 date
The Chancellor of the Exchequer, Sajid Javid, has announced that this year's Budget will be held on Wednesday, 6th November.
Find out moreSpring Statement 2019 - what to expect
On 13th March, Chancellor Philip Hammond will reveal the contents of his Spring Statement 2019, providing an update on the UK's economic health.
Find out moreSpring Statement 2019 Summary and Highlights
The Chancellor of the Exchequer, Philip Hammond, announced his Spring Statement to Parliament on Wednesday, 13th March
Find out moreScottish Budget 2019-20
Scotland's Finance Secretary, Derek Mackay, revealed his tax and spending plans for the next financial year in his Draft Scottish Budget 2019-20 on 12th December 2018.
Find out moreBudget 2018 Summary and Highlights
Chancellor Philip Hammond delivered the first Budget on a Monday since 1962 - his final fiscal statement before the UK prepares to leave the European Union.
Find out moreRead our expert answers to your The Budget questions
What does the abolishment of Furnished Holiday Lets mean for me?
I have a property that I let out as a Furnished Holiday Let (FHL). With the abolishment of the FHL scheme from April 2025, what does this mean for me?
Find out moreBudget 2023: All you need to know about childcare support reforms
I have heard the Chancellor announced plans to offer 30 hours of free childcare for children aged nine months upwards in his Spring Budget. When is this likely to happen and what are the eligibility r...
Find out moreBudget 2023: What are the changes to foster care relief?
I have heard the Chancellor mention in his Spring Budget that there are changes to foster care relief. Is this likely to mean I will pay more or less tax on my foster carer income than previously?
Find out moreWhat is Employment Allowance?
The Employment Allowance is available to certain businesses. If you are eligible, you can reduce your employer Class 1 National Insurance Contributions each tax year.
Find out more