Autumn Budget 2024: UK private schools hit by VAT fees October 30, 2024 Private schools will be subject to VAT on fees from the start of 2025, Chancellor Rachel Reeves announced in today’s Autumn Budget. As expected, the government is removing the tax benefits previously linked to the charitable status of all private schools in the UK. Tuition and boarding tuition fees will now be taxed 20 per [...]
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: Reeves extends rates relief for retail and hospitality October 30, 2024 Rachel Reeves has extended business rates relief for the UK’s hospitality and retail sectors. In her highly-anticipated Autumn Budget statement today, the Chancellor announced a 40 per cent business rates relief for the industry, which is down from the current 75 per cent rate set to expire on 31 March. The 40 per cent rates [...]
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: 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: 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: 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, [...]
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 [...]
Eurozone grows twice as fast as expected as Germany dodges recession October 30, 2024 New 'flash' figures released by Eurostat showed that the bloc grew 0.4 per cent between July and September, accelerating from 0.2 per cent in the second quarter.