Budget 2024 Income Tax News. The chancellor is seeking to find a reported £40 billion from taxes rises and whitehall savings in her budget on october 30. Basic rate taxpayers receive relief at 20 per cent, while higher and additional rate taxpayers.

The budget speech usually starts at about 12:30 uk time and lasts around an hour. Around 66 per cent of taxpayers out of the over 4 crore filers have opted for the new income tax regime for income tax return (itr) filing.