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UK Budget to raise taxes by £40bn: Hospitality industry reacts

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per cent to 15 per cent from April 2025, and that the threshold at which companies will have to start making contributions will drop from £9,100 to £5,000. per cent rise] from April 2025, as the Labour Government promised to support people amid the cost of living crisis. Property developers will also be subject to higher rates of SDLT.