Tax rates & allowances

Personal tax rates and allowances are generally set for income tax years running to 5 April. Corporate rates and allowances are set for financial years running to 31 March.

06 Feb 2024

Government borrowing falls as Chancellor hints at tax cuts in Spring Budget

Government borrowing fell to ÂŁ7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget.

06 Feb 2024

Tax cuts may have to be scrapped due to 'economic bind', warns IFS

Tax cut promises may need to be scrapped as a result of the UK being in an 'unfortunate economic and fiscal bind', the Institute for Fiscal Studies (IFS) has warned.