Autumn Budget 2024: UK tax changes affecting non-doms
Following last month’s Budget, there is now more clarity on the detail of how the new tax regime will work, once the existing tax regime for non-UK domiciled individuals (non-doms) is abolished from 6 April 2025. Here, we discuss the key points and how individuals will be affected. What key points have now been confirmed…
READ MOREAutumn Budget 2024: Employee ownership trust changes
The UK government’s Autumn Budget on 30 October 2024, introduced several changes to EOTs. These changes aim to make the rules more robust and ensure that EOTs are used for their intended purpose of benefiting employees rather than for tax avoidance. The following changes apply to EOTs established on or after 30 October 2024: Control restrictions:…
READ MOREBudget 2024 – family business focus
Our Family Business Tax Partner, Yvette Jacobs-Lee explores the latest announcements from the Autumn Budget 2024 and shares her expert insights on the key takeaways, how these changes could impact your family businesses, and what you should be considering. How can we help? Our family business team has decades of experience working with successful family-run…
READ MOREAutumn Budget 2024
Ahead of the Budget the Prime Minister said that it was time for the UK “to embrace the harsh light of fiscal reality”. We now know more – in the short to medium term at least – of who will feel the full glare of that light. With this Budget the Chancellor has aimed to…
READ MORESpring Budget 2024
Jeremy Hunt’s second full budget was very clearly delivered in the shadow of a general election, with the speech peppered throughout with partisan comments, and policies designed to put the Conservative Party on the front foot with the electorate. The chancellor explained that, after the difficulties of the last few years, the economy is turning…
READ MOREWebinar recording: Autumn Statement 2023 – what the announcements mean for you
Thank you to all those who were able to join us at the Autumn statement webinar where our Head of Tax, Tim Stovold together with Tax Partner Melanie Reed and Tax Director Katy Shaw, analysed the Chancellor’s announcements and summarised and explained what they mean for you. Read or watch our Autumn Statement 2023 summary…
READ MOREAutumn Statement 2023
The Chancellor of the Exchequer delivered a far more positive and optimistic Autumn Statement than would have been expected even a few weeks ago. With a recent fall in inflation figures, and in light of improved debt and borrowing forecasts, the Chancellor focused on the economic progress made this year, and plans to use his…
READ MORESpring Budget 2023
Jeremy Hunt became only the second of the five most recent Chancellors of the Exchequer to deliver a full Budget. While he asserted the need to remain vigilant in the face of the threat of inflation and the burden of national debt, the Chancellor was confident that, having taken the decisions he took in the…
READ MOREAutumn Statement 2022
After the former Chancellor Kwasi Kwarteng’s Growth Plan on 23 September 2022, Jeremy Hunt’s appointment on 14 October, the reversal of many of the Growth Plan measures on 17 October and a new Prime Minister on 25 October, many were hoping for a relatively low-key Autumn Statement. This wish was largely granted as, while the…
READ MOREAutumn Statement 2022: impact on global mobility
The Chancellor announced in the Autumn Statement a general increase in employment tax costs. Organisations with internationally mobile workforces should consider how they are impacted. Below we explore some of the consequences of the Autumn Statement on globally mobile employees: Income tax and national insurance (NIC) The biggest announcement was the decrease in the level…
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