Key measures on tax, investments, pensions and property
What does the Autumn Budget Statement 2024 mean for your money? Chancellor Rachel Reeves delivered Labour’s first Budget since 2010 on 30 October, after the party’s return to power in July’s general election. She announced tax rises worth £40bn, commenting that these would rebuild public services and stabilise the public finances. Continue reading →

Departure from previous rules where pensions were excluded from calculations
In a significant shift announced by Chancellor Rachel Reeves, inherited pensions will become subject to Inheritance Tax (IHT) from April 2027. This marks a departure from previous rules where pensions were excluded from IHT calculations. Currently, pensions are usually passed on tax-free if you die under the age of 75 – or taxed at the beneficiaries’ marginal rate of Income Tax if you die over 75 – but in most cases, pensions don’t attract IHT. Continue reading →

Higher taxes on profits from selling assets like shares
As part of a broader tax-raising initiative, the Chancellor, Rachel Reeves, confirmed that the lower Capital Gains Tax (CGT) rate will rise from 10% to 18%, while the higher rate will increase from 20% to 24%. This change means you might face higher taxes on profits from selling assets like shares. Previously, those with gains above the threshold had to pay 20% on profits from assets such as shares, or 24% from selling additional property. Rates on residential property will remain at 18% and 24%, respectively. Continue reading →