Latest news and blogs from Dominic Hill

A round up of our latest news, guides and blogs from the world of accountancy for private individuals and businesses

New Spring Blog Alert!

So if you are anything like us, you will have watched the Budget live and listened to the hour-long announcements of what we can expect next from our government.


If, like many other people, you couldn’t bear the boo’s and jeering everytime a sentence was uttered, then here are our top 5 things to take away;


  1. The VAT registration threshold has been raised from £85,000 to £90,000. This means for businesses who’s annual turnover was starting to get near that limit, there is a little bit more breathing space. This wasn’t quite the VAT rate reduction we were hoping for but it’s a move in the right direction


  1. There will be a change in 2026 to the High Income Child Benefit Charge to make it fairer for households. At present if one taxpayer earns more than £50,000, the child benefit due to them is reduced. It was implied that the long-term change will be to look at the limits per household rather than per taxpayer. Whilst they iron out the rules for 2026, there will be a change from April 2024 which increases the individual threshold to £60,000 and the top taper threshold to £80,000.


  1. From 6 April 2024, national insurance for the employed has another cut from 10% to 8%. Self-employed national insurance will also be reduced from 8% to 6%. This is in addition to the change that we enjoyed late last year and for an individual earning £50,000 per year will mean an extra £60 in their pocket each month


  1. The higher rate for capital gains tax on sale of residential property will be reduced from 28% to 24%. The lower rate is staying the same, as is the rates for sales of commercial property. This is giving a bit of relief in an area that has been penalised in the last few years with the reduction of capital gains tax allowances


  1. A more personal one for the residents of the town where we are based – Eastbourne is to receive a further £20 million to regenerate the town under the Long Term Plan for Towns scheme. It has been reported that this will be used for seafront regeneration, community safety, transport links as well as improving our high street


If any of this feel relevant to you and you wish to discuss it with us, please feel free to call the office number on 01323 649509 or email us on

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