Bring us some FIGgy pudding!
A four-year relief for foreign income and gains (FIG) will replace the current regime for UK resident non-domiciled individuals.
Abolition of the Furnished Holiday Lettings regime
From April 2025, both long-term and short-term (holiday) lettings will be subject to the same tax treatment.
VAT threshold increase, extra resources for HMRC and changes to HICBC
VAT registration threshold increased for the first time in seven years.
Will Artificial Intelligence help improve public sector productivity?
In his opening remarks on the performance of the economy, Jeremy Hunt emphasised the UK’s competitive advantage in the booming artificial intelligence (AI) sector. Later in the budget he outlined the efficiencies and opportunities this boom could lead to.