The Spring Budget 2024 will take place on Wednesday 6 March 2024. Following on from this, a second Finance Bill will be published. The current Finance Bill, which was published after the 2023 Autumn Statement, had its second reading in the House of Commons before Christmas and has now moved to Committee Stage, the date for which has not yet been determined.
Guidance for submitting Spring Budget 2024 representations to HM Treasury has also been published. Representations must be made by 24 January 2024 via the representations portal.
The Scottish and Welsh Governments also recently announced their 2024/25 draft budgets. Full details are available on the Scottish and Welsh budget pages. In Scotland, from 6 April 2024 a new ‘advanced rate’ band of 45 percent will be applied on income from £75,000 to £125,140. More details on the Scottish income tax rates and band applicable from 2024/25 are available in a factsheet.