All Budget dates now confirmed
As well as the main Budget, which is next week, the Scottish and Welsh governments have now confirmed when their devolved equivalents will be published. What do you need to know?
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HMRC clarifies treatment of averaging relief under MTD IT
HMRC has updated its guidance to explain how averaging relief claims will operate under Making Tax Digital for Income Tax (MTD IT). The clarification addresses concerns about how farmers and creators will claim relief once quarterly reporting becomes mandatory. What has changed?
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Double up on the employment allowance
You’re the sole shareholder of a limited company which employs several members of staff. You’re working on plans to start another business with an ex-colleague. Can both businesses benefit from the full employment allowance (EA)?
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VAT cut for children's holiday activities over summer
The government has announced a temporary reduction in the rate of VAT applying to certain children's holiday activity programmes during the summer holidays. The measure is intended to help families with childcare costs during the school break. What has changed?
The UK Autumn Budget takes place on 22 November – next Wednesday. Of course, this makes draft legislation that affects the whole UK, but Scotland and Wales do have some devolved rights with respect to tax – for example the equivalents of stamp duty land tax. This means that the devolved administrations also hold an annual Budget. The Scottish government will present its draft Budget for 2024/25 on 19 December. The Budget will be presented for approval in Holyrood at a later date – probably February next year. The Welsh government will also unveil its draft Budget on 19 December. Final approval will take place on 27 February.
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