{"id":251044,"date":"2024-03-07T00:17:46","date_gmt":"2024-03-07T00:17:46","guid":{"rendered":"https:\/\/www.no-worries.co.uk\/?p=251044"},"modified":"2024-04-30T02:57:53","modified_gmt":"2024-04-30T02:57:53","slug":"2024-uk-spring-budget","status":"publish","type":"post","link":"https:\/\/www.no-worries.co.uk\/blog\/2024-uk-spring-budget\/","title":{"rendered":"2024 Spring Budget Updates"},"content":{"rendered":"\n
Today the Spring Budget 2024<\/a> speech was delivered by Chancellor Jeremy Hunt. Here we delve into the heart of the 2024 Spring Budget and what it means for you. As professionals navigating the complexities of the UK tax system, staying informed on governmental updates is important for optimizing your financial strategies and ensuring compliance. The recent budget announcement brought with it a raft of changes, touching on everything from Capital Gains Tax to the taxation landscape for non-domiciled<\/a> residents in the UK.<\/p>\n\n\n\n We’ll break down these changes in a clear, concise manner, providing insights into how they might affect your financial planning and business operations. Whether you’re a sole trader<\/a>, a contractor operating through a limited company, or an individual with varied domestic and international interests, this budget has something for everyone.<\/p>\n\n\n\n Regarding the planned changes to Capital Gains Tax, there’s an important update that will benefit property investors. From 6 April 2024, the higher rate of Capital Gains Tax<\/a> on property sales (excluding your primary residence) will be reduced from 28% to 24%. This adjustment means that when selling a property, the tax burden on the profit made from the sale will be lessened, allowing investors to retain a greater portion of their gains. This change could have notable implications for your investment strategy moving forward.<\/p>\n\n\n\nCapital Gains Tax Changes<\/strong><\/h2>\n\n\n\n