{"id":1157,"date":"2023-03-16T15:27:31","date_gmt":"2023-03-16T15:27:31","guid":{"rendered":"https:\/\/ctt-group.co.uk\/accountancy\/?p=1157"},"modified":"2023-03-20T09:55:15","modified_gmt":"2023-03-20T09:55:15","slug":"ctt-accountancy-are-pleased-to-present-our-summary-of-the-spring-statement-2023","status":"publish","type":"post","link":"https:\/\/ctt-group.co.uk\/accountancy\/ctt-accountancy-are-pleased-to-present-our-summary-of-the-spring-statement-2023\/","title":{"rendered":"CTT Accountancy are pleased to present our Summary of the Spring Statement 2023"},"content":{"rendered":"
CTT Accountancy are pleased to present our Summary of the Spring Budget 2023.<\/p>\n
We have summarised the important announcements made by the Chancellor in yesterday\u2019s address, which include:<\/p>\n
\u2022 Currently, the first \u00a32,000 of dividends is chargeable to tax at 0% (the Dividend Allowance). This will be reduced to \u00a31,000 for 2023\/24 and \u00a3500 for 2024\/25.<\/p>\n
\u2022 Pension annual allowance increased to \u00a360k from \u00a340k and lifetime allowance scrapped<\/p>\n
\u2022 Capital gains tax annual exempt amount will be reduced from \u00a312,300 to \u00a36,000 from 6th April 2023 and to \u00a33,000 from 6th April 2024.<\/p>\n
\u2022 The Universal Credit childcare cap will increase to \u00a3951 for one child (up from \u00a3646) and \u00a31,630 from two children (up from \u00a31,108)<\/p>\n
Throughout our summary, we have also incorporated informative comments to help you understand the impact that the budget changes could have on you and your business.<\/p>\n
Take a look at our Spring Budget Statement summary here: Spring Statement Summary 2023<\/a>.<\/p>\n