The BUDGET 2024 falls on Wednesday, March 6th, and is crucial for accountants and tax advisers like us. Having observed several budgets throughout the years, on budget day, this is typically what we do at SmallBiz Accounts:
- We watch the chancellor give his budget speech to the House of Commons at about midday.
- We get a real-time stream from a news channel that provides reactions in response to headline announcements that impact income tax, national insurance, road fuel, and alcohol duty etc.
- We will continue to observe the MPs’ discussion on the budget well beyond the end of the chancellor’s speech. As someone passionate about taxes, I find this part particularly intriguing since it sheds light on how tax policies impact constituents’ lives.
- Following the speech, in the hours and occasionally days that follow, we enjoy reading informative tax materials. The tax community carefully examines and assimilates these press releases, which are often referred to as the ‘devil in the details’. They provide practical information regarding tax changes and their impact on our customers.
Once we have thoroughly examined the ‘devil in the details’, we will release the Budget News 2024 for dentists and how it impacts dentists beyond the headlines that everyone gets.
