Michael Kill’s Post

The grim outlook of Rachel Reeves' budget is really stealing the spotlight. With two and a half months still to go, the "incredibly tough choices" the chancellor is grappling with are beginning to surface—and the picture isn't pretty. The recent data indicating that the UK economy grew by 0.6% between April and June has sparked speculation that this might positively impact public finances, potentially enabling Reeves to ease some of the strain in her October budget. The OBR is anticipated to revise its full-year growth forecast, currently at 0.8%, in its upcoming assessment for the October budget. At the moment there seems to be no clear direction in terms of actions in the budget that would impact on the sector, although there are still questions regarding what will happen to the current Business Rates relief and the subsequent impact of NLW on businesses...

The grim outlook of Rachel Reeves' budget is really stealing the spotlight. With two and a half months still to go, the "incredibly tough choices" the chancellor is grappling with are beginning to surface—and the picture isn't pretty. The recent data indicating that the UK economy grew by 0.6% between April and June has sparked speculation that this might positively impact public finances, potentially enabling Reeves to ease some of the strain in her October budget. The OBR is anticipated to revise its full-year growth forecast, currently at 0.8%, in its upcoming assessment for the October budget. At the moment there seems to be no clear direction in terms of actions in the budget that would impact on the sector, although there are still questions regarding what will happen to the current Business Rates relief and the subsequent impact of NLW on businesses...

Read my analysis of the Chancellor's budget announcements, economic challenges, and future implications for individuals and businesses. Will this be the last budget before a change in power? #springstatement #ukpolitics #smebusiness https://lnkd.in/eNu56JG4

✨ **UK Budget Day - 30th October 2024** ✨ Today is a key moment for the UK as we look ahead to the future! The Chancellor will be laying out the nation's financial plans, which will impact everything from public services and taxes to housing and the cost of living. 🏡💰 This is a day that affects us all, so stay tuned for updates on how the government’s decisions might shape the economy and our daily lives. From investments in key sectors to changes in benefits or public spending, Budget Day can offer both challenges and opportunities. What are your hopes or concerns for this year’s budget? Let us know in the comments! 👇 #UKBudgetDay #Budget2024 #Economy #UKFinance #TaxAndSpending #BudgetImpact #Chancellor #FiscalPolicy #CostOfLiving #FinancialUpdate #PublicServices

A few weeks ago, Chancellor Jeremy Hunt unveiled the 2024 UK Spring Budget, which came with a mix of expected reforms and some surprises. Overall, individuals and small businesses should rejoice. But there are certain highlights of the budget that must be discussed. In this blog post, we do just that. Have a look -> #springbudget2024 #ukspringbudget #ukbudget2024

Chancellor Rachel Reeves delivered Labour’s first #AutumnBudget in 14 years last week, focusing on ‘fixing the foundations’ and delivering economic stability. Read more on this and other news in our latest #NewsinReview #Budget #OBR #USelection

Chancellor Rachel Reeves delivered Labour’s first #AutumnBudget in 14 years last week, focusing on ‘fixing the foundations’ and delivering economic stability. Read more on this and other news in our latest #NewsinReview #Budget #OBR #USelection

Chancellor Rachel Reeves delivered Labour’s first #AutumnBudget in 14 years last week, focusing on ‘fixing the foundations’ and delivering economic stability. Read more on this and other news in our latest #NewsinReview #Budget #OBR #USelection

UK Spring Budget 2024: What was announced? Before the Spring Statement was announced last week, there was a lot of speculation surrounding what it might include. Back in November, the Chancellor’s Autumn Budget had a focus on aspects like national insurance, economic growth, minimum wage, full expensing, and inflation. But did this new update cover similar themes? In our latest blog, Matthew Muldoon (VP of Financial Management Solutions at Advanced) assesses how the government’s plans have progressed since the autumn, highlighting some of the predictions that were made before Wednesday’s announcement, and then unpicking the key points to emerge from it: ➡https://lnkd.in/eRqsBYWy #SpringStatement #EconomicForecast #FinanceInsights

An interesting Budget with many easy headlines. The APR/BPR reduction sticks out both for cutting the relief quite so starkly, but also remembering 100% relief has 'only' been around since 1992, and the world didn't end before that. The real losers are those who don't have 7 years to outlive a gift of their farm/business, or who die unexpectedly - not uncommon, unfortunately, in farming. As for non-doms, some interesting changes where long term UK residents have a life interest in excluded property trusts and the repatriation rules might help some non-doms stay for longer, but still need the absolute detail and a consultation or two to get through before we know full details. Much work to be done!