The Chancellor has unveiled her Autumn Budget. The small change allowing the transfer of any unused 100% £1 million agricultural property relief / business property relief allowance between spouses is welcome, though disappointingly, there have been no other concessions to the inheritance tax changes announced last year. We’ve prepared a concise summary of the key headlines for you including:
- Main changes to inheritance tax
- High value council tax surcharge
- Updates to income tax, national insurance, and ISAs
- Taxation of vehicles
- Changes to capital allowances for businesses
- Pension salary sacrifice cap
- Changes to Employee Ownership Trust (EOT) tax relief
- Expansion to Enterprise Management Incentives (EMI) scheme
- Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCT)
With change on the horizon, now is the time to plan ahead. Our team are here to help you navigate these developments with confidence. If you’d like to discuss any of these topics, please get in touch.
