Webinar recording: What does the Budget mean for the media sector?
The Chancellor presented her second Autumn Budget on 26 November, following widespread anticipation about how she would tackle the nation’s financial shortfall. In this webinar recording from 27th November, media tax experts Leigh Collins and Chris Buckden discussed the implications of the Budget announcements from the perspective of both media businesses and individuals.
Below we have highlighted those Budget changes that are likely to have the most impact on businesses in the media sector:
- Changes to dividend, savings and property tax rates are likely to mean that existing remuneration planning and overall investment strategy needs a health check.
- With the effective tax rate on a sale to an Employee Ownership Trust (EOT) at 12%, it remains an efficient exit strategy compared to a third-party sale or a management buy-out, with the tax saving increasing as the size of the gain grows.
- Relaxation of Enterprise Management Incentive (EMI) share schemes and Enterprise Investment Scheme (EIS) limits may allow companies previously excluded to utilise these schemes to attract, retain and incentivise top media talent, and to attract investment from UK individuals.
- Review whether you would benefit from transferring your company shares to a trust before 6 April 2026, to gain an additional £1M of inheritance tax relief via Business Property Relief.
If you would like to discuss any issue arising from the Budget, please do not hesitate to get in touch with a member of our media team.
