Finance (No. 2) Act 2024

1. Introductory Text

2. Income tax charge, rates etc

   1. 1. Income tax charge for tax year 2024-25

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

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

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

3. High income child benefit charge

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

4. Measures relating to property

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

   2. 7. Abolition of multiple dwellings relief for SDLT

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

   4. 9. Exemption from SDLT: registered providers of social housing etc

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

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

5. Corporation tax charge and rates etc

   1. 12. Charge and main rate for financial year 2025

   2. 13. Standard small profits rate and fraction for financial year 2025

6. Creative reliefs

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

   2. 15. Section 14: commencement and transition

   3. 16. Increase in theatre tax credit

   4. 17. Increase in orchestra tax credit

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

7. Energy (oil and gas) profits levy

   1. 19. Energy security investment mechanism

8. Measures relating to financial services

   1. 20. Collective investment schemes: co-ownership schemes

   2. 21. Economic crime (anti-money laundering) levy

9. Other measures

   1. 22. Transfers of assets abroad

   2. 23. Minor VAT amendments

   3. 24. Collective money purchase arrangements

10. Final

    1. 25. Interpretation

    2. 26. Short title