Finance (No. 2) Act 2024 contents (as enacted) with links to our guides on the relevant topics. With a general election held on July 4th, 2024 is all set to be a year of three Finance Acts.

This contains measures introduced at March’s Spring Budget and received Royal Assent on 24 May 2024


Income tax charge, rates etc

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

High income child benefit charge

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

Measures relating to property

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

Corporation tax charge and rates etc

12 Charge and main rate for financial year 2025

13 Standard small profits rate and fraction for financial year 2025

Creative reliefs

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

Energy (oil and gas) profits levy

19 Energy security investment mechanism Measures relating to financial services

20 Collective investment schemes: co-ownership schemes 

21 Economic crime (anti-money laundering) levy

Other measures

22 Transfers of assets abroad

23 Minor VAT amendments

24 Collective money purchase arrangements


25 Interpretation

26 Short title

Full legislation: Finance (No 2) Act 2024