Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Budget definition

What does Budget mean? In legal practice, Budget describes the government’s annual fiscal statement setting out the economic outlook and proposed changes to tax and public spending, which practitioners track for rate, relief and compliance changes and commencement rules. United Kingdom: The Chancellor of the Exchequer delivers the Budget to the House of Commons, now typically in the Spring (the Spring Budget). Alongside the Autumn Statement, it is a principal fiscal event. “Budget” is not defined in legislation; it is a parliamentary convention. Its legal effect arises through Ways and Means resolutions and the ensuing Finance Bill/Finance Act, with certain measures given temporary effect...

Archived UK tax practitioners’ roundup: 2017–18 Autumn Budget, Finance Bill 2018 and Spring Statement analysis

Published by a LexisNexis Tax expert

Practice notes

ARCHIVED: This PrACTice Note has been archived and is not maintained.

This Practice Note collates material on fiscal developments across the 2017–18 tax year, beginning with publication of draft clauses for Finance Bill 2018 on Wednesday 13 September 2017, moving through the Autumn Budget 2017, on to the Bill’s progress through parliament ultimately resulting in the Finance Act 2018, and the Spring Statement on 13 March 2018. For a detailed overview of the annual Budget and Finance Bill process, including the procedural steps involved in passing a Finance Act, see Practice Note: The Budget and Finance Bill process...

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Web page updated on 21/05/2026

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