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...

2018–19 UK tax: Budget 2018, Finance Bill/Act 2019 and Spring Statement—practitioner analysis and commentary

Published by a LexisNexis Tax expert

Practice notes

This Practice Note brings together material on fiscal milestones across the 2018–19 tax year, beginning with publication of draft measures for Finance Bill 2019, moving through the 2018 budget, the Finance Act 2019’s passage through Parliament, and concluding with the 2019 Spring Statement. For details of the Finance Act 2019—its route to Royal assent and principal measures—see: Tax—Finance Act 2019—progress through Parliament. For an in-depth outline of the annual Budget and Finance Bill cycle, including the procedures for enacting a Finance Act, see Practice Note: The Budget and Finance Bill process.

Spring Statement 2019

The Chancellor of the Exchequer, Philip Hammond, presented his Spring Statement on Wednesday 13 March 2019. Analysis includes:

Spring Statement 2019—Tax analysis
Spring Statement 2019—Private Client analysis
Spring Statement 2019—predictions for tax

Finance Act 2019

The government released Finance Bill 2019 (FB 2019—also referred to as the Finance (No 3) Bill 2017–19, the Finance (No 3) Bill 2018, or the Finance Bill 2018–19) on Wednesday 7 November 2018. Finance Bill 2019 received Royal Assent on 12 February 2019 and became the Finance Act 2019...

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Web page updated on 21/05/2026

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