The Autumn Budget 2024 Analysis
Chancellor Rachel Reeves delivered her Budget on Wednesday 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’.
Ms Reeves said the Budget will raise £40 billion in taxes. Employers’ National Insurance contributions (NICs) will be increased from next April while Capital Gains Tax rates will also rise. Inherited pensions will fall within the Inheritance Tax net from April 2027 while reliefs will be reformed on the passing down of agricultural and business assets. The Chancellor also confirmed the introduction of VAT on private school fees and the abolishment of the tax regime for non-UK domiciled individuals.
Having scrutinised the supporting information subsequently released by the Treasury, we have put all the significant information together into one easy-to-read downloadable commentary.
Please do get in touch with our team if you would like to discuss what impact these announcements will have on future planning for both yourself, your family and your business.
