UK farms could shrink ‘like Russian dolls’ amid tax row, government warned November 7, 2024 The UK’s farms could be set to shrink “like Russian dolls”, the government has been warned, thanks to Labour’s inheritance tax changes announced in the Budget. Shadow business secretary – and former City minister – Andrew Griffith has cautioned that the policy could mean “like Russian dolls, with each generation that passes, you end up [...]
No10 warned over risk of ‘killing off’ family-run firms November 4, 2024 Downing Street is attempting to weather a storm whipped up by entrepreneur James Dyson over changes to the inheritance tax treatment of family-run businesses. In an article in the Times, Dyson accused the government of “killing off family businesses, individual aspiration and economic growth” with their approach to death duties in the Budget. The high-profile [...]
No10 hits back as Dyson boss slams ‘ignorant’ and ‘spiteful’ Budget November 4, 2024 Sir James Dyson has branded Rachel Reeves’ first Budget “ignorant” and “spiteful” as he accused her of “killing off family businesses, individual aspiration and economic growth”. The British entrepreneur, 77, hit out at the Chancellor following the government’s first fiscal event last week, writing in the Times newspaper that Labour “hates British families”. He cautioned [...]
Labour’s inheritance tax reforms ‘threaten the very fabric of the countryside’ October 31, 2024 In yesterday's Budget, the Chancellor announced a sweeping overhaul of the inheritance tax system, including changes to a relief which had allowed agricultural land to be passed on tax-free.
Autumn Budget 2024: Sweeping overhaul of inheritance tax regime revealed October 30, 2024 Alongside the changes to pension pots, the Chancellor said she was changing the taxation of gifts passed on during someone's lifetime.
Autumn Budget 2024: Reeves takes half measure on AIM tax hike October 30, 2024 Stocks on London’s junior AIM market registered their biggest single day bump in four years today as the Government revealed it would only partly abolish a key inheritance tax break for shares on the exchange. Shares on the market will retain a 50 per cent relief from inheritance tax, the Chancellor Rachel Reeves confirmed today, [...]
AIM listings hit 23-year low amid Budget tax speculation October 28, 2024 The number of AIM companies has fallen below 700 for the first time since 2001, new data has confirmed, as London’s junior market has been battered by speculation that a key tax relief for AIM shares may be scrapped in this week’s Budget. Some 92 companies have delisted from AIM in the past year, with [...]
Most Brits worried about tax hikes, survey reveals October 25, 2024 With the Budget just less than a week away, a recent survey reveals that most Brits are worried about potential tax hikes, yet the poll highlights a divide on tax strategy. According to a survey by AJ Bell conducted from October 2-4, representing 2,054 UK adults, two thirds of respondents expressed concerns around their personal [...]
Inheritance tax receipts hit record high ahead of expected Budget reforms October 22, 2024 The government raked in £4.3bn from inheritance tax in the six months to September, a nine per cent rise on the same period last year, as Rachel Reeves lines up reforms to the unpopular tax in her Budget next week. According to figures released by HMRC on Tuesday, the Exchequer received £736m from inheritance tax [...]
Autumn Budget: Which taxes will Rachel Reeves hike? October 22, 2024 With the Autumn Budget set to be delivered in just a few days, speculation about which taxes Chancellor Rachel Reeves will opt to raise has reached fever pitch. On entering No 11 Downing Street, Reeves commissioned the Treasury to conduct a thorough spending audit, which she claimed unearthed a “fiscal black hole” of £22bn, paving [...]