Legislation – Finance (No. 2) Act 2024

1 Income tax charge for tax year 2024-25

2 Main rates of income tax for tax year 2024-25

3 Default and savings rates of income tax for tax year 2024-25

4 Freezing starting rate limit for savings for tax year 2024-25

5 Increase in thresholds to £60,000 and £80,000

6 Reduction in higher CGT rate for residential property gains to 24%

7 Abolition of multiple dwellings relief for SDLT

8 First-time buyers’ relief from SDLT: acquisition of new lease on bare trust

9 Exemption from SDLT: registered providers of social housing etc

10 Purchases by public bodies not to be subject to special 15% rate of SDLT

11 Treatment of non-UK agricultural property and woodlands for IHT purposes

12 Charge and main rate for financial year 2025

13 Standard small profits rate and fraction for financial year 2025

14 Additional relief for low-budget films with specified UK connection

15 Section 14: commencement and transition

16 Increase in theatre tax credit

17 Increase in orchestra tax credit

18 Increase in museums and galleries exhibition tax credit and removal of sunset

19 Energy security investment mechanism

20 Collective investment schemes: co-ownership schemes

21 Economic crime (anti-money laundering) levy

22 Transfers of assets abroad

23 Minor VAT amendments

24 Collective money purchase arrangements

25 Interpretation

Which version?
Latest available (Revised)
Original (As enacted)

Changes to legislation:

There are currently no known outstanding effects for the Finance (No. 2) Act 2024, Section 21.

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.

Measures relating to financial services

21Economic crime (anti-money laundering) levy

(1)

In section 54(2)(c) of FA 2022 (amount of charge in case of persons whose UK revenue is very large), for “£250,000” substitute “£500,000”.

(2)

The amendment made by this section has effect for the financial year beginning with April 2024 and subsequent financial years.