Budget 2025 – an unprecedented Budget
The run up to the Budget was unprecedented in many ways – so many briefings (and counter briefings), a lot of kite-flying, u-turns on policies which had not themselves been formally announced and then the release of the Office for Budget Responsibility’s report before the Chancellor even stood up to start her speech. We always […]
Budget 2025 – employee ownership trusts… only half as good as they used to be
Introduced back in 2014, the concept of selling your business to an EOT allowed, in simple terms at least, for the proceeds of the sale to be free from capital gains tax. Obviously, there were a raft of conditions which needed to be met to fall within these provisions and these were tightened up slightly […]
Budget 2025 – incorporations brought under the microscope
Where an individual, partners or trustees transfer a business into a company in exchange for the company issuing them with shares, then (subject to a number of conditions being met) the inherent gain on the disposal of the business can be rolled into the shares issued by the company – effectively, the gain is deferred […]
Spring Budget 2024 – the pre-Election gamble
At what was likely to be the last fiscal event before the General Election, we expected a few surprises to be dropped in to woo the voters, although most of these were let out of the bag over the weekend in what seemed to be the most briefed budget ever known. But with so many […]
Spring Budget 2024 – property tax has never been so popular!
A number of announcements were made in respect of property taxation, many of which were suggested as a way to influence taxpayers. Too much can be a bad thing So, the theory goes, if you increase tax rates then revenue increases, but there comes a point when the increase influences taxpayers and revenue begins to […]
Budget 2023 – the great big pension gamble
Although the budget felt a bit light on content from a personal tax perspective, there was still some interesting stuff, although not a total surprise if you had followed the news over the weekend! The biggest change since A Day? Who would have thought that a change to pension tax would incentivise people to work? […]
Autumn Statement 2022 – no rabbits pulled out of hats but plenty of fiscal drag
After the debacle of eight weeks ago, the announcements by the Chancellor today were never going be so radical as to cause concern in the markets, but we all knew that there would be some element of revenue raising, we just didn’t know which taxes would rise and by how much. On a positive note, […]
Autumn Budget 2021 – the tax Budget that never was!
You can never truly know the content of the Budget until the Chancellor has sat down and you get to grips with all of the publications generated by HM Treasury, even in this day and age, when numerous announcements are leaked to the press in the run up to the big day. Often those publications […]
Budget 2021 – tax thresholds frozen but are fundamental changes on the horizon?
Rather than the much anticipated increase in capital gains tax rates, or even changes to business assets disposal relief (previously known as entrepreneurs’ relief), the Chancellor has instead decided to freeze income tax, capital gains tax and inheritance tax thresholds. The Chancellor acknowledged that the fairest route was to have the highest earning households contribute […]