Qualified advisers answering your
Financial Questions
call 0800 092 1245

Why is the next budget so late?

As we approach the next budget on 22 April many people may be slightly confused as to why the budget has been announced after the end of the tax year. Historically budgets have been called before the end of the tax year so that any changes can be introduced at the start of the new tax year. So what can be read from this year's delay?

Many experts believe that the fact this year's budget will be delivered on 22 April indicates there will be very little change in the system. Governments are not often willing to change tax rates and tax bands halfway through a tax year and even more against backdating allowances and various changes to the tax regime. It seems highly inevitable that the overall impact of the forthcoming budget will be exactly nothing although we may see some movement around the edges with regards to VAT on cigarettes, alcohol and petrol.

It is common knowledge that to all intents and purposes the hands of the UK government are very much tied with regards to taxation in the short term. However, in the medium to longer term it is inevitable we will see a significant increase in taxation to pay down the ever growing national debt which has now reached alarming levels.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details