I was planning on live tweeting the #Budget2025, but pretty incredibly, an OBR document has been leaked containing the headlines from the Budget before Rachel Reeves has announced it. So with that in mind, here's the headlines...
Forms of wealth/mansion taxes have been much debated over the previous months and we will see one.
The Chancellor is set to announce that there will be a high value council tax surcharge on homes over £2 million. We don't know the specifics on this yet.
#Budget2025
Well, that lasted long - HMRC have U-turned on the below decision after only 24 hours. Definitely the right call, but the fact they ever thought it was a good idea to begin with isn’t a great look:
Seems I jumped the gun with this tweet:
-In April 2026, HICBC will change from an individual charge to a household-based system.
-There will be updates to the HICBC's threshold, with the £50k threshold increasing to £60k and with the upper taper limit increasing to £80k.
Many would have been hoping for changes (and were speculating) of the High Income Child Benefit Charge within this budget, but Jeremy Hunt has discussed childcare and moved on without changes announced.
#SpringBudget2024
We're now underway with the #SpringBudget2024, a Budget that @Jeremy_Hunt has introduced as a Budget for "long-term growth".
I'll be live tweeting the key points and policies below as they are delivered...