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Since autumn 2017 the United Kingdom budget typically takes place in the Autumn in order to allow major tax changes to occur annually, well before the start of the fiscal year. [2] The most recent budget was presented by Rachel Reeves on 30 October 2024. The UK fiscal year ends on 5 April each year. The financial year ends on 31 March of each year.
The Corporation Tax Act 2009 applies to accounting periods ending on or after 1 April 2009. Two further bills were enacted in 2010 – the Corporation Tax Act 2010 and the Taxation (International and Other Provisions) Act 2010. Once these bills were enacted the Tax Law Rewrite Project was disbanded in April 2010 – see ICAEW report. [1] [2]
The UK government has spent more than it has raised in taxation since financial year 2001-02, [3] creating a budget deficit and leading to growing debt interest payments. Average government spending per person is higher in Scotland, Wales and Northern Ireland than it is in England.
57 acts of Parliament were passed in 2023; all were public general acts. indicates that an act is available to view at legislation.gov.uk, and indicates the location of the original act in the Parliamentary Archives.
The Office for National Statistics said higher domestic energy bills pushed up consumer price inflation up to 2.3% in the year to October from the three-year low of 1.7% recorded the previous month.
The Joint Committee on Tax Law Rewrite Bills was a joint committee of the Parliament of the United Kingdom. The remit of the committee was to scrutinise bills intended to make the language of tax law simpler, while preserving the effect of the existing law, subject to minor changes. [1] It scrutinized the Tax Law Rewrite Project.
UK income tax and National Insurance charges (2016–17) UK income tax and National Insurance as a percentage of taxable pay, and marginal income tax and NI rate (2016–17) Annual income percentiles for taxpayers in the UK, before and after income tax. In the SVG file, hover over a graph to highlight it.
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