Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 06 NOVEMBER 2024

Autumn Budget 2024: Key Takeaways

Jurit LLP
Jurit LLP
Contributor
Jurit LLP

Jurit LLP

Customised, pragmatic, client-focused legal solutions. Jurit has re-imagined the way legal services...

View firm profile
Explore more from Jurit LLP

The UK Autumn Budget introduces significant tax changes, including CGT and IHT rate hikes, non-dom regime overhaul, tightened rules for carried interest, inheritance tax on pensions, and increased SDLT. Non-doms and private wealth strategies face stricter scrutiny starting April 2025.

United KingdomTax
Jo Summers
Jo Summers

The Autumn Budget delivered by Chancellor, Rachel Reeves, contained a great many changes which will affect private individuals – from Capital Gains Tax (CGT) and Inheritance Tax (IHT), to major changes for non-doms from 6 April 2025.

We will provide more detailed information on the non-dom changes and IHT / trust changes but in the meantime, hope that you find the summary below helpful.

For help and support on the back of the Budget, don't hesitate to get in touch with our Private Wealth & Tax team.

  • Capital Gains Tax

CGT went up to 18% for lower rate payers and 24% for higher rate payers, effectively aligning with the already higher CGT rates for property sales. This was, perhaps, not as bad as some had feared.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

UK ‘Windfall’ Bank Tax Would Worsen An Already Complex System

UK banks face the prospect of a new windfall tax as campaigners push for additional levies on strong reported profits, while industry leaders warn of potential consequences for lending, investment, and the UK's position as a global financial centre. This analysis examines the practical implications of adding another layer to an already complex sector-specific tax regime that includes corporation tax, banking surcharge, and bank levy.
United KingdomTax
RPC
RPC
Article

Frequently Asked Questions About IRS Clearance And Form 706-NA

UK executors and beneficiaries dealing with US assets face significant delays in obtaining IRS Transfer Certificates, with waiting times now extending to two or three years. This comprehensive FAQ addresses the critical questions surrounding Form 706-NA applications, US estate tax requirements, and the practical challenges of administering estates containing US shares and investments when the deceased was not a US citizen.
GlobalTax
Lester Aldridge LLP
Lester Aldridge LLP
Article

Transfer Pricing Enquiries: HMRC’s Approach And Recent Cases

Transfer pricing litigation in the UK has historically been rare, but recent procedural cases reveal HMRC's increasingly aggressive approach to enquiries. With average enquiry durations now exceeding 40 months and transfer pricing yield surging to £3.4bn, understanding the legal boundaries of information requests and closure notice applications has become critical for multinational groups facing contentious disputes.
United KingdomTax
Macfarlanes LLP
Macfarlanes LLP