UK Autumn Budget 2024 Presented to Parliament Including Several Tax Measures

VAT on Private Schools:
- Removal of VAT exemption on private school fees from 1 January 2025.
- Education services and vocational training provided by private schools in the UK will be subject to VAT at the standard rate of 20%.
- Pre-payments of fees or boarding services on or after 29 July 2024 for terms starting after 1 January 2025 will also be subject to VAT.
Plastic Tax:
- No specific mention of changes or introductions related to plastic tax in the provided text.
ESG (Environmental, Social, and Governance):
- Energy Profits Levy (EPL) Reform:
  - Increase in EPL rate by 3 percentage points to 38%.
  - Extension of sunset clause to 31 March 2030.
  - Removal of 29% investment allowance.
  - Introduction of 66% decarbonisation allowance.
- Relief for Payments into a Carbon Capture Usage and Storage (CCUS) Decommissioning Fund:
  - Provision of tax relief for payments made by oil and gas companies into decommissioning funds for CCUS activities.
  - Exemption of associated receipts from the Energy Profits Levy.
- Agricultural Property Relief:
  - Extension of the relief to land managed under environmental agreements from 6 April 2025.
Customs:
- No specific mention of changes or introductions related to customs in the provided text.
Consultation on Electronic Invoicing:
- The government will publish a consultation in early 2025 to explore the implementation of electronic invoicing (e-invoicing) in the UK.