Key points
- Regulation of the tax profession has started to become a reality.
- Abolition of non-dom tax status and furnished holiday lettings regime will create complexity.
- Increases to the income levels for the high income child benefit charge (HICBC) are welcome but basing it on family income may be problematic.
- Reductions in rates of employee and self-employed National Insurance were no surprise.
https://www.taxation.co.uk/articles/initial-thoughts-on-the-2024-budget