19 March 2014

The Chancellor’s announcements - Budget 2014

The Chancellor set out his Budget today for the next financial year and beyond.

Ahead of today’s announcements came news of the new Tax-free childcare scheme which is due to be launched from Autumn 2015.

You can read more information about Tax-free childcare in this press release from the Low Incomes Tax Reform Group (LITRG) 

Another measure announced was a change to the rate that some tax credit overpayments can be recovered from ongoing tax credit awards. This is to take effect from April 2016 onwards for households with income over £20,000 where the rate of recovery from ongoing payments will increase from the current 25% to 50%.

For other Budget 2014 news, see the full LITRG article here.

 

 





Please note, we are only able to accept comments from advisers and related professionals working on behalf of users of HMRC services. Comments are published after approval by the site administrator.