The 2024 Budget and its effects

         2024 Autumn Budget

Eros Business Consulting in association with their Direct Tax Partners
Kinnaird Hill publish information on the Budget Plans

2024 Autumn Budget Your guide to the                                                        Budget Your guide to the 2024 Autumn Budget

Introduction The Chancellor of the Exchequer, Rachel Reeves came to Parliament to deliver her first Budget. The Chancellor’s stated aim with this Budget was to “fix the foundations and deliver change” and “invest, invest, invest”. To do this there would be a need to raise an additional £40 billion in taxes.

Here are some of the main announcements from the UK Autumn Budget. 2 Your guide to the 2024 Autumn Budget Personal Tax The Labour Government will retain the Personal Tax Allowance and Basic rate band announced by the previous Government until 2028, after which they will increase with inflation. Personal allowances will still be reduced by £1 for every £2 a person’s income exceeds £100,000. UK Income Tax Rates (except Scotland)

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