With the Budget taking place yesterday, there were a number of significant changes announced and confirmed coming in from April....
Some of these were expected, such as the Travel and Subsistence tax relief restriction for those employed via an employment intermediary. We expect the re-percussion of this will be a skills shortage for workers unwilling to travel.
A surprising announcement was a drop in capital gains tax to 10% and 20%. This is the chancellor's move to encourage enterprise investments. But, this does not apply to residential properties or carried interest, which remain at the 18% & 28% tax rates.
We knew the new dividend tax regime from April was going ahead so this comes as no surprise. We have been busy reviewing our clients' records over the past few weeks to seek out any tax saving opportunities.
If you have any concerns about any of the announcements made in the recent Budget and would like a confidential chat to an advisor, please call 0845 303 1144 now or email firstname.lastname@example.org