In brief: 11 January 2024

Spring Budget

The chancellor will present his Spring Budget on 6 March 2024.

tinyurl.com/hmtnewsdec

PAYE thresholds

HMRC has updated its guidance on rates and thresholds for employers for 2023-24 to add class 1 National Insurance contribution rates tables for directors and employers for 6 January 2024 to 5 April 2024.

tinyurl.com/hmrcratesthresh

Pensions

The Register of Overseas Entities (Verification and Exceptions) (Amendment) Regulations SI 2023/1416 exempt pension schemes from certain information disclosure requirements and amending regulations relating to the verification of information.

tinyurl.com/si20231416

National Insurance

The National Insurance Contributions (Reduction in Rates) Act 2023 which cuts the rates of class 1 and class 4 National Insurance contributions and abolishes mandatory class 2 contributions received royal assent on 18 December 2023.

tinyurl.com/nicsriract

Woodlands

HMRC has updated its guidance on tax relief and exemption for woodlands.

tinyurl.com/hmrcwoodlands

Corporation tax

HMRC has launched a consultation on draft guidance on the multinational top-up tax and domestic top-up tax. The consultation closes on 7 February...