Bloomsbury's Tax Rates and Tables 2024/25: Finance (No. 2) Act Edition
Author: Lucy Webb
Bloomsbury's Tax Rates and Tables 2024/25: Finance (No. 2) Act Edition
Compiled by:
Lucy Webb ACA CTA
Welcome to Tax Rates and Tables 2024/25 (Finance Act Edition), published by Bloomsbury Professional.
This edition of Tax Rates and Tables 2024/25 has been updated to reflect measures passed in the Finance (No 2) Act 2024.
Finance (No 2) Act 2024 legislates for a reduction in the higher rate of capital gains tax for residential property gains from 28% to 24% from 6 April 2024 – see Chapter 8.
The Act also amends various creative reliefs available to companies, including the introduction of additional relief for certain low-budget films connected to the UK, as well as the removal of the sunset for the museums and galleries exhibition tax relief – see Chapter 7.
Outside of Finance (No 2) Act 2024, the recently elected Labour government has announced that VAT at 20% will apply to private school fees and associated boarding from 1 January 2025. For further details, see Chapter 12.
I am very grateful for the help provided by the editorial team at Bloomsbury Professional, particularly Jane Bradford for her patience and considerable skill in bringing all the material together.
I hope that you find Tax Rates and Tables 2024/25 (Finance Act Edition) useful and practical.
Lucy Webb ACA CTA
July 2024