Chancellor Rachel Reeves has today (30 October 2024) unveiled the contents of her Budget in the House of Commons. The Rt. Hon. Rachel Reeves MP said her first budget will raise taxes by £40 billion and key tax rises look set to include an increase to employers’ national insurance ...
Meanwhile,the independent Office for Budget Responsibility released updatedU.K. forecasts saying real GDP growth will pick up from close to zero last year, to 1.1% this year, 2% in 2025, and 1.8% in 2026. That compares with previous forecasts for 0.8% growth in 2024 followed by 1.9% in ...
Capital gains tax rates The capital gains tax regime was simplified in Labour’s October 2024 Budget. Unfortunately the same Budget increased CGT rates, too. The specific rate you’ll pay on your gains depends on your total taxable income. Higher CGT rates from 30 October 2024: Basic-rate ta...
Overall, the outlook remains positive for UK property investors following the Autumn 2024 Budget. Stable inflation and lower interest rates, combined with a lack of increase to Capital Gains Tax on property, can only mean good things for the housing market. The latest Savills UK house pric...
In late October, Reeves unveiled the government's first budget since replacing the longstanding Conservative governmentin July. The budget included plans from Prime Minister Keir Starmer's government to raise taxes by £40 billion ($50.5 billion). Reeves said at the time tha...
UK Autumn Budget 2024: On 30 October, Chancellor Rachel Reeves will deliver the first Labour Budget since March 2010. Discover our UK Budget predictions.
The introduction of VAT on private school fees starting in January 2025, announced outside of the Budget in July 2024, could result in many parents being priced out, placing additional strain on the state education system. The abolition of the Furnished Holiday Lettings regime, announced in the...
The U.K. will suffer the largest fall in living standards since records began, according to Thursday's report from the independent Office for Budget Responsibility (OBR). Real household disposable income, a measure of living standards, is projected to fall b...
Chancellor of the Exchequer Rachel Reeves of the United Kingdom (UK) poses for photographs as she leaves 11 Downing Street to deliver her budget to Parliament in London, Britain, on Oct. 30, 2024. (Xinhua) LONDON, Oct. 30 (Xinhua) -- The Labour Party government unveiled its first budget...
The United Kingdom government has outlined its 2024 budget, which aims in part to tackle the cost-of-living crisis but does not address many of the concerns raised by hoteliers. The pressure for the delivery of tax cuts is heightened in this budget due to the imminence of a general ...