Autumn Budget 2024: Leading tech founders slam tax increases October 30, 2024 British tech founders have slammed rises in capital gains tax (CGT) and national insurance contributions (NICs) confirmed by Chancellor Rachel Reeves in Wednesday’s Budget. The government has increased the lower rate of CGT from 10 to 18 per cent, and the higher rate from 20 to 24 per cent. It also hiked employers’ NICs by [...]
Autumn Budget 2024: Landlords and renters hit by tax rise October 30, 2024 Labour’s Autumn Budget has introduced major tax changes which will impact landlords and renters across the UK. Chancellor Rachel Reeves, as expected, announced an increase in Capital Gains Tax (CGT) on higher-rate tax payers from 20 to 24 per cent, and basic-rate tax payers from 10 to 18 per cent. Yet, the nil rate band [...]
Let’s be honest… this Budget is austerity for the private sector October 30, 2024 Rachel Reeves has introduced a new kind of Marxism with this Budget, where private industry foots the bill for an expanding public sector, and the poorest don’t get better off, says Mattew Lesh Just two months ago, in a speech delivered inside Downing Street, Keir Starmer declared that growth and wealth creation were his government’s [...]
Autumn Budget 2024: Reeves spares banks from tax raid after lobbying October 30, 2024 The government has spared UK banks from a tax raid in its maiden Budget after lobbyists warned it could hurt the sector's international competitiveness.
Autumn Budget 2024: All the key announcements October 30, 2024 After weeks of speculation, Rachel Reeves has delivered her first Budget as Chancellor to the House of Commons. The Budget was the first from a Labour government in 14 years and the first one ever by a female Chancellor. The 77-minute address to MPs featured a wide range of announcements which City AM has summarized [...]
Autumn Budget 2024: Sunak slams Labour for being dishonest with the British public October 30, 2024 Rishi Sunak has slammed the government for "not being straight with the British people", and argued that Labour's Budget is "saddling our children and grandchildren with billions upon billions of debt".
Autumn Budget 2024: Labour abolishes non-dom tax status October 30, 2024 The Labour government has confirmed plans to scrap the non-dom regime despite a last ditch effort from the community and its advisors to warn against the move. As part of the Budget, Rachel Reeves confirmed she would fulfil the promise made in Labour’s manifesto to remove the tax status, in a move that one advisor [...]
Autumn Budget 2024: Reeves increases taxes on private equity profit October 30, 2024 The Chancellor Rachel Reeves confirmed she would raise taxes on the profit made by private equity dealmakers today but stepped back from the full-scale raid feared by some corners of the industry. In her maiden Budget, Reeves said the government would lift the levy to 32 per cent from April next year, up from the [...]
Autumn Budget 2024: Taxes rocket by £40bn as employers told to pay more October 30, 2024 Rachel Reeves has hiked employers’ national insurance contributions (NICs) by 1.2 per cent, as she delivered the Labour government’s first Autumn Budget in office, which saw taxes rise by a record £40bn and government borrowing increase. The Chancellor unveiled the rise – which is set to see the levy hit 15 per cent for firms [...]
Autumn Budget 2024: Capital gains tax hiked October 30, 2024 The maximum rate of capital gains tax will be hiked to 24 per cent, Chancellor Rachel Reeves announced in today’s Autumn Budget. “This means the UK will still have the lowest capital gains tax rate of any European G7 economy,” said Reeves in her speech to Parliament. Currently, higher-rate taxpayers face capital gains tax rates [...]