Wednesday 30 October sees Rachel Reeves, the new Chancellor of the Exchequer, stand up and deliver Labour’s Autumn Budget 2024.
Prime Minister, Sir Keir Starmer, has already pre-warned the nation for a “painful” budget announcement after referring to the £22 billion “black hole” identified in the public finances.
While we do not have precise details at this stage, we anticipate various initiatives to boost economic stability and growth.
Labour has already pledged not to increase Income Tax, Employee National Insurance (NI) or VAT, but the Wilder Coe Tax Team are expecting to see a combination of spending cuts and business tax increases, including likely targets:
- Capital Gains Tax (CGT)
- Inheritance Tax (IHT)
- Non-Dom reforms
- Tackling the Tax Gap
With many tax changes anticipated, our advisors are preparing their expert insights and can help you plan for a financially healthy future.
Follow us to hear what the announcements from Autumn Budget 2024 mean for individuals and business owners.
