Autumn Budget Predictions

The Autumn Budget is coming on 26th November and some of the areas likely to change are:

• Capital Gains Tax (CGT):
  Expected to be increased, with possible changes to relief for investment in UK businesses.
• Inheritance Tax (IHT):
  The government is considering changes to gifting rules, such as implementing a lifetime cap on the value of gifts.
• Property taxes:
  Reforms could include new council tax bands for higher-value properties or a potential replacement for Stamp Duty Land Tax with a new property tax.
• Gambling duties:
  A new gambling tax is anticipated, with potential increases to gaming and betting duties to make them more comparable to other taxes.
• Other taxes:
  Increases in employers’ NICs, fuel Duty or taxes on bank profits are being considered

Galloways will provide you with an in-depth summary following the Budget on 26th November.