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The following notes are reproduced from a Treasury statement issued 21 May 2024.
Lower inflation supports people by maintaining the purchasing power of their money.
If prices only rise slowly, people can plan their budgets more effectively –
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As time passes during the present election campaign, its seems more likely that we may have a change of government from the 5 July.
Labour have disclosed a number of tax changes they would introduce. To summarise they are:
Private school fees
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1 July 2024 – Due date for corporation tax due for the year ended 30 September 2023.
6 July 2024 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs.
19 July 2024 – Pay Class 1A NICs (by the 22 July
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The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent such as children or grandchildren after their death.
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