budget

Government data found 2021-22 was a “record breaking” year for venture capital trusts as investors increased by 32 per cent.
The data showed the number of VCT investors who claimed income tax relief rose to 25,800 in 2021-22.
This covers those that made claims through self-assessment rather than other forms, like PAYE.
HMRC said the increase in investment in the period could show the impacts of the pandemic were lower than expected.

Chancellor Jeremy Hunt has indicated further tax cuts could be on the cards, at the World Economic Forum in Davos last week (January 18).
Speaking to a group of journalists in Davos – including the Financial Times – Hunt described lower tax economies like North America and Asian as “more dynamic and more competitive” saying this was the direction he wanted to move in.