Autumn Budget 2024 – Business Changes
Learn about the key business changes from the Autumn Budget 2024, including tax reforms, support for small businesses, and new initiatives aimed at driving growth and investment.
Autumn Budget 2024 – Full Summary
Chancellor Rachel Reeves delivered her Budget on 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’.
Points mean penalties under new VAT regime
New penalties for late VAT returns and payments have come into force and will impact on VAT-registered farming businesses. Under the new regime, which saw a soft launch in January 2023, businesses accumulate penalty points for late VAT returns, as well as penalties...
Experts urge businesses to beware of latest VAT changes
Business owners registered for VAT are being reminded to make sure they file their returns and pay on time or face falling foul of new penalties introduced by HMRC.
VAT on energy saving materials
The zero rate of VAT has been extended to include the installation of additional energy-saving materials (ESMs) from 1 February 2024.
VAT registration threshold raised
Effective from 1 April 2024, the taxable turnover above which a business is required to register and account for VAT will be increased from £85,000 to £90,000.