An insight from the gbac team on all things accounting, finance and more.
As the first Budget from the new Labour government, which has been vocal about the difficulty of filling a ‘fiscal black hole’ left by the previous Conservative government, the October 2024 Budget introduced some tough changes for employers.
On 30th October, Chancellor Rachel Reeves presented a historic Autumn Budget to Parliament – the Labour Party’s first Budget in over 14 years and the first to be delivered by a woman.
Under current rules in England and Wales, private landlords cannot legally rent out their property without an Energy Performance Certificate (EPC) with a minimum rating of E, while social landlords are not subject to any minimum energy efficiency standard.
With the UK government looking for ways to reduce tax fraud and increase tax collection, it is encouraging businesses to use electronic invoicing – also known as e-invoicing.
Despite the Capital Gains Tax (CGT) rate on residential property disposals decreasing by 4% this past spring, rising interest rates and the imminent scrapping of holiday let tax reliefs in 2025 led many buy-to-let landlords to sell their properties in 2024.
Last year, we posted about the National Audit Office (NAO) findings that more than a quarter of matured Child Trust Funds had still not been claimed by the summer of 2023.
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