AUTUMN BUDGET

key tax issues.

The Autumn Budget is set for 30th October. 

In this months newsletter, we look at possible changes to implement before the budget, how changes may affect you / your business and areas to be aware of.

After the Chancellor's speech, in our next newsletter, we will bring you a full Budget Summary Guide of all the key changes announced.

INHERITANCE TAX

act before the budget.

Many wealthy individuals are apparently passing on substantial amounts of their wealth in anticipation of possible changes to inheritance tax (IHT) in Labour’s first Budget.

Firstly, you need to check with us the value of your estate & potential IHT exposure under the current rules.

ASSET DISPOSAL

before budget day.

Capital Gains Tax changes normally take effect from 6 April, but there have been mid-year changes in the past. 

This possibility has caused many taxpayers to bring forward disposals to take advantage of the current rates.

CAPITAL GAINS TAX

Possible changes.

BEWARE OF

B&B anti-avoidance.

Many investors may be looking to realise capital gains on their investments at the current rates, just in case there is an increase with effect from 30 October 2024.

RUMOURS OF

Pension changes.

Changes to pension tax relief seems to be top of the list of possible changes in the Budget and could yield more tax revenues than changes to CGT and IHT combined.