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Review of 2024

06 January 2025 / Andrew Hubbard
Issue: 4967 / Categories: Comment & Analysis , employment status , National Insurance , R&D , Admin
202254
That was the year that was...

As is traditional I start the new year by looking back at the world of tax as seen through the pages of Taxation magazine. It’s been quite a year – perhaps not the most dramatic in my time (nothing could really match the events of 2022 with four chancellors and a complete reversal of a mini budget within days) but still full of interest. We certainly never found ourselves short of things to write about.

National Insurance takes centre stage

When future tax historians look back at 2024 I think that they might well see it as the year of National Insurance. There were two key developments – one at each end of the year. In Jeremy Hunt’s (remember him?) Spring Budget we had the reduction in employee contribution rates from 10% to 8% a follow up to the cut from 12% to 10% announced in the...

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