How does the 2024 Spring Budget impact you?
Introduction
On March 6, 2024, Chancellor Jeremy Hunt announced a mix of tax cuts and increases. The main highlight of the tax cut for the 2024/25 fiscal year was a reduction of two percentage points in the primary rates of National Insurance Contributions (NICs) for both employees and the self-employed, amounting to an initial expenditure of £10 billion. Another notable reform, albeit smaller in scale at about 5% of the total outlay, was the adjustment of thresholds for the high-income child benefit charge (HICBC), a move welcomed by many and delivered as a surprise.
On the flip side, tax increases were also introduced. This included a plan to eliminate non-domicile taxation starting from April 2025, along with the discontinuation of the furnished holiday lets regime from the same date. Collectively, these measures are forecasted to generate just under £3 billion by 2028/29.
Despite these adjustments, the Office for Budget Responsibility (OBR) asserts that Mr. Hunt will adhere to his fiscal rule of reducing debt as a percentage of gross domestic product (GDP) by 2028/29, even though total borrowing is anticipated to surpass £3,000 billion by that time. The Chancellor’s adherence to the rule hinges on a margin of just £9 billion, which the OBR highlights as “a tiny fraction of the risks associated with any forecast.”
At a glance
- The main rate of class 1 employee national insurance contributions (NICs) will be cut from 10% to 8% with effect from 6 April 2024 and the main rate of class 4 self-employed NICs will also be reduced from 8% to 6%. This follows the recent cut from 12% for employees, and from 10% for self-employed; with the suggestion that national insurance as a ‘double tax’ will be made “fairer” in the future.
- The high income child benefit charge (HICBC) will be reformed, increasing the HICBC threshold to £60,000 from April 2024. The rate at which HICBC is charged will be halved so that child benefit is not fully withdrawn until individuals have an income of at least £80,000. HICBC will apply on a household rather than an individual basis by April 2026.
- An additional UK individual savings account (ISA) will be created with a £5,000 allowance in addition to the current £20,000 ISA limit.
- The higher rate of capital gains tax (CGT) for residential property disposals will be cut from 28% to 24% from 6 April 2024.
- The furnished holiday lettings tax regime will be abolished from 6 April 2025.
- The VAT registration threshold will rise from £85,000 to £90,000 from 1 April 2024. The deregistration threshold will rise from £83,000 to £88,000.
- The non-UK domicile rules will be replaced with a regime based on residence from 2025.
Personal taxation
Main personal allowances and reliefs | 2024/25 | 2023/24 |
Personal allowance 1 | £12,570 | £12,570 |
Married couples’/civil partners’ transferable allowance | £1,260 | £1,260 |
Married couples’/civil partners’ allowance maximum | £11,080 | £10,375 |
at 10% 2 (if at least one born before 6/4/35) minimum | £4,280 | £4,010 |
Blind person’s allowance | £3,070 | £2,870 |
Rent-a-room relief | £7,500 | £7,500 |
Property allowance and trading allowance (each) | £1,000 | £1,000 |
2 Reduced by £1 for every £2 of adjusted net income over £37,000 (£34,600 for 2023/24), until the minimum is reached.
Income tax rates and bands
UK taxpayers excluding Scottish taxpayers’ non-dividend, non-savings income | 2024/25 | 2023/24 |
20% basic rate on taxable income up to | £37,700 | £37,700 |
40% higher rate on next slice over | £37,700 | £37,700 |
45% additional rate on income over | £125,140 | £125,140 |
All UK taxpayers | ||
Starting rate at 0% on band of savings income up to 3 | £5,000 | £5,000 |
Personal savings allowance at 0%: basic rate taxpayers | £1,000 | £1,000 |
higher rate taxpayers | £500 | £500 |
additional rate taxpayers | £0 | £0 |
Dividend allowance at 0% tax – all individuals | £500 | £1,000 |
Tax rates on dividend income: basic rate taxpayers | 8.75% | 8.75% |
higher rate taxpayers | 33.75% | 33.75% |
additional rate taxpayers | 39.35% | 39.35% |
Scottish taxpayers’ non-dividend, non-savings income | 2024/25 | 2023/24 |
19% starter rate on taxable income up to | £2,306 | £2,162 |
20% basic rate on next slice up to | £13,991 | £13,118 |
21% intermediate rate on next slice up to | £31,092 | £31,092 |
42% higher rate on next slice up to | £62,430 | £125,140 |
48% advanced rate on next slice up to | £125,140 | N/A |
48% (47% for 2023/24) top rate on income over | £125,140 | £125,140 |
Trusts | 2024/25 | 2023/24 |
Income exemption generally | £500 | N/A |
Standard rate band generally | N/A | £1,000 |
Dividends (rate applicable to trusts) | 39.35% | 39.35% |
Other income | 45% | 45% |
High income child benefit charge: 1% of benefit per £200 (£100 in 2023/24) adjusted net income of £60,000 – £80,000 (£50,000 – £60,000 in 2023/24).
For the tax years 2024/25 through 2027/28, the personal allowance will remain fixed at £12,570, and the higher rate threshold will stay at £50,270, as previously outlined.
In Scotland, adjustments for the 2024/25 fiscal year will see the starter and basic rate bands expanding by 6.7%, while the upper limit of the intermediate rate band will be held steady, resulting in a narrower band.
Additionally, a new advanced rate of 45% will be implemented in Scotland for taxable income falling between £62,430 and £125,140. Beyond this threshold, the top rate will be applied at 48%, a slight increase from the current 47%. These modifications were detailed in last December’s Scottish Budget statement.
The 0% band for the starting rate for savings income for 2024/25 will remain at its current level of £5,000.
The dividend allowance will reduce to £500 for 2024/25, as announced in November 2022. The rates of tax on dividends above the dividend allowance will remain unchanged.
Starting from April 2024, the High Income Child Benefit Charge (HICBC) threshold will rise to £60,000. Simultaneously, the rate at which HICBC is imposed will be slashed in half, ensuring that child benefit is not completely withdrawn until individuals earn at least £80,000, compared to the current threshold of £60,000.
Furthermore, by April 2026, HICBC will transition from an individual-based to a household-based administration. Consultations regarding this reform will commence in due course.
The government plans to launch consultations soon to explore options for enhancing the precision of economic assistance to households. The objective is to enhance the equity of policies, such as HICBC, by transitioning to a system that considers household income. This shift aims to refine the targeting of economic support, particularly during times of crisis.
The FHL tax regime will be abolished with effect from 6 April 2025.
For the tax years 2024/25 to 2027/28, the upper earnings limit, upper secondary thresholds, and upper profits limit will remain aligned with the unchanged higher rate threshold of £50,270, as previously declared. The class 1 primary threshold (PT) of £12,570 and secondary threshold of £9,100 will be frozen until April 2028.
Likewise, the upper earnings limit (UEL) and class 4 upper profits limit (UPL) will stay aligned with the higher rate threshold at £50,270 until April 2028. The lower earnings limit (£6,396) and the small profits threshold (SPT – £6,725) will also remain unchanged in 2024/25.
Starting from April 6, 2024, the class 1 primary (employee) contribution rate on earnings between the PT and UEL will decrease by two percentage points to 8%. The 2% rate will remain unchanged on earnings above the UEL. Similarly, the class 4 (self-employed) contribution rate on earnings between the lower profits limit (LPL) and UPL will also be reduced by two percentage points to 6%. The 2% rate will stay the same on earnings above the UPL.
As previously announced in the Autumn Statement 2023, class 2 contributions will no longer be mandatory for the self-employed. However, individuals with profits below the SPT who desire access to contributory benefits (e.g., state pension) can opt to make voluntary contributions at a rate of £3.45 a week.
The voluntary class 3 rate will remain unchanged at £17.45 a week for the 2024/25 tax year.
The company car tax rates for the 2024/25 tax year will remain the same as in 2023/24. As per the announcement in the Autumn Statement 2022, rates for electric and ultra-low emission cars will see a one percentage point increment in each of the years 2025/26, 2026/27, and 2027/28. These increases will be capped at a maximum appropriate percentage of 5% for electric cars and 21% for ultra-low emission cars.
Additionally, rates for all other categories of vehicles will see a one percentage point increase for the 2025/26 tax year, up to a maximum appropriate percentage of 37%. These rates will then remain fixed for the 2026/27 and 2027/28 tax years.
Starting from 6 April 2025, the remittance basis of taxation for non-UK domiciled individuals will be replaced with a residence-based regime. Under this new system, individuals who opt in will not be subject to UK tax on any foreign income and gains for the first four years of their tax residence, provided they have been non-tax resident for the preceding ten years.
To ease the transition, there will be special arrangements for existing non-domiciled individuals currently utilising the remittance basis. They will have the option to rebase the value of their capital assets to 5 April 2019. Additionally, for the 2025/26 tax year, there will be a temporary 50% exemption for the taxation of foreign income. Furthermore, a two-year ‘temporary repatriation facility’ will allow individuals to bring their previously accrued foreign income and gains into the UK at a 12% tax rate.
Overseas workday relief (OWR) will also undergo reform. Eligible employees will be able to claim OWR for the first three years of their tax residence. This reform includes providing income tax relief on earnings for employment duties conducted overseas without current restrictions on remitting these earnings.
The government will initiate consultations on transitioning to a residence-based regime for inheritance tax (IHT). This will involve considering a ten-year exemption period for new arrivals and implementing a ten-year ‘tail-provision’ for those who leave the UK and become non-resident. No alterations to IHT will take effect before 6 April 2025.
The Finance Bill 2024 will introduce legislation aimed at preventing individuals from using a company to circumvent anti-avoidance measures, specifically the ‘transfer of assets abroad’ provisions, to evade UK income tax. These changes will come into effect for income generated abroad by individuals starting from 6 April 2024.
Pensions, savings and investments
Effective from 6 April 2024, the Lifetime Allowance (LTA) will cease to be a component of the pensions tax framework, as stipulated in the recently enacted Finance Act 2024. Nevertheless, the introduction of two new allowances, namely the lump sum allowance (set at £268,275, contingent upon any transitional protection) and the lump sum and death benefit allowance (set at £1,073,100, contingent upon any transitional protection), will impose fresh limitations on the lump sum benefits that can be accessed without incurring a tax charge.
For the 2024/25 tax year, the AA for pension contributions will remain unchanged at £60,000. However, this allowance is subject to tapering when an individual’s threshold income exceeds £200,000 and their adjusted income exceeds £260,000. The minimum AA triggered by the taper rules will remain at £10,000, applying when adjusted income reaches £360,000 or more.
Similarly, the Money Purchase Annual Allowance (MPAA), applicable to individuals who have flexibly drawn pension benefits, will remain at £10,000.
The Finance (No 2) Act 2023 outlines provisions for HMRC to issue top-up payments starting from the 2024/25 tax year to individuals whose total income falls below the personal allowance and who contribute to a pension scheme through a net pay arrangement. These top-up payments are to be disbursed promptly following the tax year in which the contribution is made.
The Financial Conduct Authority (FCA) is planning to include in its consultation on Value for Money (VFM) proposals that mandate the disclosure of historical net investment returns and a breakdown of UK investments for contract-based defined contribution (DC) default funds. These proposals will also require schemes to compare their performance, costs, and other metrics with at least two schemes managing over £10 billion in assets, a threshold that is expected to rise significantly over time.
In collaboration with the FCA, the government intends to introduce legislation as soon as possible to implement the VFM framework across the market. Additionally, the Pensions Regulator will be granted new authority to ensure that key disclosures are in place by 2027.
A consultation paper has been released regarding the establishment of a UK ISA, which would allow investments in UK shares or other UK-focused assets, potentially including corporate bonds and gilts. This new UK ISA will have a subscription limit of £5,000, in addition to the existing £20,000 ISA allowance.
For the 2024/25 tax year, the ISA annual subscription limit will remain unchanged at £20,000, and the corresponding limit for Junior ISAs (JISAs) and Child Trust Funds (CTFs) will stay at £9,000. From 6 April 2024, several technical adjustments to ISAs will come into effect, including an increase in the minimum opening age for cash ISAs to 18, the removal of restrictions on subscriptions to multiple ISAs of the same type within the tax year (except for Lifetime ISAs), and the lifting of the prohibition on partial transfers of current year ISA subscriptions between ISA managers.
The government plans to conduct a sale of a portion of its NatWest shareholding to retail investors as early as this summer. Additionally, the government aims to completely divest its shareholding in NatWest Group by the fiscal year 2025/26, contingent upon favorable market conditions.
National Savings & Investments (NS&I) will launch the British Savings Bond in early April 2024. This will offer consumers a guaranteed interest rate that will be fixed for three years.
Legislation will reinstate the previous (pre-31 January 2024) eligibility criteria for an individual to qualify as a high net worth or sophisticated investor. There will be further work to review the scope of the exemptions.
Capital Taxes
For the 2024/25 tax year, the Capital Gains Tax (CGT) annual exempt amount for individuals and personal representatives will be reduced to £3,000. Similarly, the annual exempt amount for most trusts will also decrease to £1,500, with a minimum of £300, as previously announced. It’s important to note that the allowance will no longer be index-linked.
Starting from 6 April 2024, the higher rate of CGT applicable to residential property disposals will be reduced from 28% to 24%. However, the lower rate, which applies to gains falling within an individual’s basic rate band, will remain at 18%.
As previously indicated, the Inheritance Tax (IHT) nil rate band will remain unchanged at £325,000 for the tax years 2024/25 through 2027/28. Similarly, the residence nil rate band (RNRB) will remain at £175,000 during this period. Additionally, the RNRB taper will continue to apply until April 2028 if the value of a deceased person’s estate exceeds £2 million.
From 1 April 2024, personal representatives of estates will no longer need to have sought commercial loans to pay IHT before applying to obtain a ‘grant on credit’ from HMRC.
Multiple dwellings relief, a bulk purchase relief in the SDLT regime for England and Northern Ireland, will be abolished from 1 June 2024. Property transactions with contracts that were exchanged on or before 6 March 2024 will continue to benefit from the relief regardless of when they complete, as will any other purchases that are completed before 1 June 2024.
The rules for claiming first-time buyers’ relief from SDLT in England and Northern Ireland will be amended from 6 March 2024. Individuals who buy a leasehold residential property through a nominee or bare trustee will be able to claim first-time buyers’ relief. Before this change the individual was not treated as the purchaser and so was not entitled to the relief.
Business taxes
The main rate of corporation tax will remain at 25% and the small profits rate will stay at 19% for the financial year starting 1 April 2025.
Currently, leased assets are excluded from both full expensing and the 50% first-year allowance for special rate assets. The government will shortly publish draft legislation on which it will consult about any potential extension of these reliefs to plant and machinery for leasing.
The empty property relief ‘reset period’ will be extended from six weeks to 13 weeks from 1 April 2024 in England. The government will also consult on a General Anti-Avoidance Rule for business rates in England.
Eligible film studios in England will benefit from a 40% relief from business rates for ten years from April 2024.
Additional support for independent films will be provided through the introduction of the Audio-Visual Expenditure Credit (AVEC). This tax credit is specifically designed for independent films with budgets, or total core expenditure, of up to £15 million, provided they obtain a new accreditation from the British Film Institute. The credit rate will be set at 53% of qualifying expenditure.
Qualifying expenditure will be capped at 80% of a film’s total core expenditure, with a maximum limit of £6.36 million per film. These changes will come into effect for films commencing principal photography from 1 April 2024, with expenditure incurred from the same date being eligible.
Additional tax relief will be provided under the Audio-Visual Expenditure Credit (AVEC) for the expenses related to visual effects in both films and high-end TV productions. These costs will be eligible for a tax credit at a rate of 39%. Furthermore, the 80% cap on qualifying expenditure for visual effects costs will be eliminated. These adjustments are scheduled to take effect from April 1, 2025. The government will initiate consultations to determine the types of expenditures that will be covered by the additional tax relief.
The rates for theatre tax relief, orchestra tax relief, and museums and galleries exhibition tax relief will be permanently set at 40% for non-touring productions and 45% for touring and orchestral productions from 1 April 2025.
The end date of the energy profits levy will be extended to 31 March 2029.
The window to claim the tax reliefs available in Freeport special tax sites will be extended from five to ten years, namely to 30 September 2031 for English Freeports and 30 September 2034 for Scottish Green Freeports and Welsh Freeports.
HMRC has released guidance aimed at offering enhanced clarity regarding the tax deductibility of training costs for sole traders and the self-employed. This guidance specifies that expenses incurred for updating existing skills or staying abreast of technological advancements or changes in industry practices are deductible when computing the taxable profits of a business.
The standard and lower rates of landfill tax will increase in accordance with the Retail Price Index (RPI), which will be adjusted to accommodate high inflation between 2022 and 2024. The adjusted rates will be rounded up to the nearest five pence. These adjustments will come into force on 1 April 2025. Landfill tax is devolved to the Scottish Parliament and Welsh Assembly.
The government plans to raise the charge paid by very large businesses with UK revenue exceeding £1 billion, which are regulated for anti-money laundering under the economic crime (anti-money laundering) levy. This charge will increase from £250,000 to £500,000 per year starting from the 2024/25 tax year.
Value Added Tax (VAT)
The VAT registration threshold will increase from £85,000 to £90,000 from 1 April 2024. The deregistration threshold will go up from £83,000 to £88,000.
After the digitisation of the DIY Housebuilders Scheme, the government intends to enact legislation granting HMRC additional authority to request supplementary evidential documentation regarding a DIY housebuilder’s claim. This authority will become effective upon Royal Assent to the Finance Bill 2024 and will be applicable to claims made from that point onward.
Technical amendments, backdated to 1 January 2023, will correct the unintentionally narrow scope of the common period rules, to ensure consistent application of HMRC’s power automatically to collect overpaid VAT repayment interest.
The government will consult on the potential implications of the High Court’s ruling in Uber Britannia v Sefton MBC. This concerns whether a private hire operator is acting as principal or agent when entering into a contractual obligation with a customer, which affects the basis on which VAT is charged.
Tax administration
HMRC’s digital services are to be improved and simplified to support income tax self-assessment taxpayers seeking to pay tax in instalments. These changes will be implemented from September 2025.
The government will consult later in 2024 on how it will deliver the abolition of class 2 NICs, as promised at Autumn Statement 2023.
A consultation has been issued concerning potential measures to enhance the regulatory framework within the tax advice market. This includes considering the requirement for tax advisers to register with HMRC should they intend to engage with HMRC on behalf of a client. Additionally, the government aims to explore streamlining and expediting the registration process for tax advisers with HMRC.
The government is investing a further £140 million to improve HMRC’s ability to manage tax debts. This is intended to expand HMRC’s debt management capacity to support both individual and business taxpayers out of debt faster and collect tax that is due.
The government is consulting on the adoption of the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF). This framework represents a new international tax transparency regime designed for the automatic exchange of information regarding crypto-assets. Additionally, the consultation seeks input on the possibility of expanding the CARF to encompass reporting on UK-resident taxpayers by UK service providers.
The government will bring forward a further set of tax administration and maintenance announcements on 18 April 2024 at a ‘Tax Administration and Maintenance Day’.
National insurance contributions (NICs) for 2024/25
Class 1 | Employee – primary | Employer – secondary |
NICs rate | 8% | 13.8% |
No NICs for employees | ||
generally on the first | £242 per week | £175 per week |
No NICs for younger employees 1 | ||
on the first | £242 per week | £967 per week |
NICs rate charged up to | £967 per week | No limit |
2% NICs on earnings over | £967 per week | N/A |
No employer NICs on the first £481 per week for employees at freeports and investment zones in Great Britain in the first three years of employment.
Employment allowance | |
Per business | £5,000 |
Limits and thresholds | Weekly | Monthly | Annual |
Lower earnings limit | £123 | £533 | £6,396 |
Primary threshold | £242 | £1,048 | £12,570 |
Secondary threshold | £175 | £758 | £9,100 |
Upper earnings limit (and upper secondary thresholds for younger/veteran employees and apprentices under 25) | £967 | £4,189 | £50,270 |
Class 1A Employers | |
On car and fuel benefits and most other taxable benefits provided to employees and directors | 13.8% |
Class 2 Self-employed | |
Flat rate (voluntary) | £3.45 per week £179.40 pa |
Small profits threshold | £6,725 pa |
Class 4 Self-employed | |
On annual profits of | £12,570 to £50,270 6% |
Over £50,270 2% |
Voluntary | |
Class 3 flat rate | £17.45 per week £907.40 pa |
Financial calendar
If the due date for payment falls on a weekend or bank holiday, payment must normally be made by the previous working day.
Every month
1 Annual corporation tax due for companies (other than large companies) with year ending nine months and a day previously, e.g. tax due 1 July 2024 for year ending 30 September 2023.
14 Quarterly instalment of corporation tax due for large and very large companies (month depends on accounting year end).
19 Pay PAYE/NIC and CIS deductions for period ending 5th of the month if not paying electronically. Submit CIS contractors’ monthly return.
22 PAYE/NIC and CIS deductions paid electronically should have cleared into HMRC bank account.
Month end Submit CT600 for year ending 12 months previously. Last day to amend CT600
for year ending 24 months previously. File accounts with Companies House for private companies with year ending nine months previously and for public companies with year ending six months previously.
April 2024
1 Merger of the RDEC and R&D SME schemes.
5 Last day to submit final Full PaymentSubmission (FPS) or Employer Payment Summary (EPS) for 2023/24. Final day to register online to ‘payroll’ benefits and expenses in 2024/25.
6 New dividend allowance and CGT annual exempt amount. Higher rate of CGT reduced for residential property disposals. Changes to class 2 and class 4 NICs. Car and van fuel and van benefit charges frozen at 2023/24 rates. Basis period reforms in full operation. Cash basis becomes default basis for self-employed and most partnerships. Changes to some ISA rules. High income child benefit charge reduced. VAT thresholds increased.
14 Due date for CT61 return for quarter to 31 March 2024.
19 Final day to send a late FPS for 2023/24. A penalty will usually be charged.
23 Interest accrues on employers’ unpaid PAYE and NICs for 2023/24 (20th if not paying electronically).
30 IHT due on lifetime transfers between 6 April and 30 September 2023. (IHT on other transfers payable six months after the end of the month in which the transfer or death occurred.)
May 2024
1 Start of daily £10 penalty where the 2022/23 tax return has not been filed (charged for up to 90 days).
3 Submit employer forms P46 (car) for quarter to 5 April 2024 (5 April if notifying electronically).
31 Last day to issue 2023/24 P60s to employees.
July 2024
5 Last date to agree a new PAYE Settlement Agreement (PSA) for 2023/24 with HMRC.
6 Deadline for employers to make returns of expenses and benefits (forms P11D and P11D (b)) for 2023/24 to HMRC and provide copies to employees.
6 Deadline for online filing of 2023/24 returns for all employee share schemes, with online registration by this date (unless a reasonable excuse) for new schemes set up during 2023/24.
14 Due date for CT61 return for quarter to 30 June 2024.
22 Pay Class 1A NICs (19 July if not paying electronically).
31 Confirm tax credit claims for 2023/24 and renewal for 2024/25.
31 Make second payment on account for 2023/24 income tax and Class 4 NICs.
August 2024
1 Penalty of 5% of the tax due or £300, whichever is the greater, where the 2022/23 tax return has not been filed.
2 Submit employer forms P46 (car) for quarter to 5 July 2024.
2 Second 5% penalty imposed on 2022/23 tax still unpaid on 2 August.
October 2024
5 Deadline to register for self-assessment for 2023/24.
14 Due date for CT61 return for quarter to 30 September 2024.
22 Pay tax and Class 1B NICs on PSAs (19th if not paying electronically).
31 Deadline for 2023/24 tax return if filed on paper.
November 2024
2 Submit employer forms P46 (car) for quarter to 5 October 2024. December 2024
30 Deadline to submit 2023/24 tax return online to have underpaid PAYE tax collected through the 2025/26 tax code.
January 2025
14 Due date for CT61 return for quarter to 31 December 2024.
31 Submit 2023/24 self-assessment tax return online. Pay balance of 2023/24 income tax and Class 4 NICs, CGT and plus class 2 NICs paid voluntarily. First payment on account for 2024/25 income tax and Class 4 NICs.
February 2025
1 Initial penalty imposed where the 2023/24 tax return has not been filed or has been filed on paper after 31 October 2024.
1 Penalty of 5% of the tax due or £300, whichever is the greater, where the 2022/23 tax return has not been filed.
2 Submit employer forms P46 (car) for quarter to 5 January 2025.
2 Third 5% penalty imposed on 2022/23 tax still unpaid on 2 February.
March 2025
3 First 5% penalty imposed on 2023/24 tax unpaid on 3 March.
31 Last few days to use any pension, CGT and IHT annual allowances and exemptions and to invest in an ISA in 2024/25.
The levels and bases of taxation, and reliefs from taxation, can change at any time.
The value of any tax relief depends on individual circumstances.
SJP Approved 18/01/2024