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ARTICLE · 05 NOVEMBER 2024

The Autumn Budget: What Does It Mean?

Shepherd and Wedderburn
Shepherd and Wedderburn
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Shepherd and Wedderburn

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Chancellor Rachel Reeves' Autumn Budget introduces significant tax adjustments, including CGT rate hikes, changes to IHT, increased employer National Insurance contributions, and stricter non-dom residency rules, aiming to raise £40 billion.

United KingdomTax
Douglas Sinclair
Douglas Sinclair
Erin Ryan
Erin Ryan
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On 30 October, the Autumn Budget was announced, confirming a myriad of tax changes.

In what has certainly been the most anticipated budget in recent memory, Chancellor of the Exchequer Rachel Reeves delivered Labour's first budget since 2010 and the first budget by a female Chancellor in British history on 30 October.

Since coming into government in July, Labour have repeatedly stated that difficult financial decisions would have to be made to plug the financial black hole caused by "worst set of circumstances since the Second World War" which they claim to have inherited from the Conservative government. Despite this, Labour have consistently promised to protect the finances of Britain's working people while aiming to raise £40 billion for the UK economy.

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