Hargreaves Lansdown warns Healey: Don’t ‘penalise investors’ with capital gains hike Investing A leading investment platform is urging chancellor John Healey to not “penalise investors” at the upcoming Budget, as Brits brace for potential tax hikes. Anna Macdonald, investment strategy director at Hargreaves Lansdown, said fresh upheaval to the tax system could discourage investment in the UK at a time when economic growth is needed. In particular, [...]
Jim O’Neill: Capital gains tax hike ‘looms’ as top option for Burnham Politics Lord Jim O’Neill has warned a hike to capital gains tax “looms out” as one of the easiest revenue-raising options for Andy Burnham and his chancellor, John Healey, as the pair draw up plans for their first Budget in October. “They’ve ruled out the three main taxes, so if they’re going to have to find [...]
Burnham tax plans spark investor rush to bank capital gains Tax Entrepreneurs and savers are rushing to bring forward the sale of their businesses or take profit on investments in anticipation of Andy Burnham’s rumoured plans to fund his ambitious devolution agenda by equalising capital gains tax with income tax. Tax and financial advisers reported a sharp uptick in client enquiries on the likely Prime Minister’s [...]
Bosses scramble to sell shares amid fears of Budget capital gains tax raid October 29, 2024 UK executives have been “racing to sell shares” at a record rate as fears mount that Chancellor Rachel Reeves will raise capital gains tax at tomorrow’s Budget. Last week, directors sold £29.8m of their companies shares, while only buying £4.1m, leaving a net £25.7m of stocks sold. Meanwhile, over the last month, investors have sold [...]
Autumn Budget: Company directors race to dump shares ahead of tax raid October 24, 2024 Fresh analysis has found company directors of listed companies are racing to sell shares ahead of a widely anticipated capital gains tax raid in next week’s Autumn Budget. Between 1 September and 22 October, the value of sell and buy transactions in directors of UK-listed companies in their own firm’s shares was £345.5m and £63m [...]
Reeves to hike tax on UK founders looking to sell October 19, 2024 Chancellor Rachel Reeves is reportedly plotting to hike taxes for entrepreneurs selling their businesses as part of her strategy to plug a £40bn fiscal “black hole”. In her upcoming Budget, Reeves is considering cutting a policy known as the business asset disposal relief, according to Bloomberg. The tax relief currently allows entrepreneurs to pay a [...]
Employee Ownership Trusts surge as entrepreneurs seek tax-friendly exits October 7, 2024 The number of UK businesses transferring ownership to employees through Employee Ownership Trusts (EOTs) as business owners seek to preserve their company's ethos.
Which taxes will Labour hike in the October Budget? September 25, 2024 Kier Starmer has said that those with the "broadest shoulders should bear the heavier burden". So where will Starmer and Reeves turn to raise some extra cash?
Tech chiefs warn Chancellor not to undermine growth with tax hike September 11, 2024 A sweeping hike in capital gains tax (CGT) risks “undermining the chancellor’s growth agenda” and could suck talent and investment away from Britain’s start-ups, some of the country’s top fintech bosses have warned. Industry bodies and tech chiefs mounted a co-ordinated push to topple the suggestion of a blanket rise in CGT yesterday as they [...]
Labour’s upcoming tax rises – and what to do about them September 10, 2024 Here’s how wealth creators in the UK can navigate the upcoming tax changes, write Ollie Saiman and Katherine Waller As we approach the new government’s first budget it seems almost impossible to avoid the widespread speculation about what Halloween tricks or treats are going to jump out of the Chancellor’s red box on 30 October. Given the [...]