A summary of the Spring Statement 2025 and the main changes that come into effect from April 2025 and beyond. The changes were announced well ahead of the Spring Budget.
Spring Statement Summary 2025
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Owner Managed Businesses (OMBs)
Owner Managed Businesses (OMBs)
Inheritance Tax and your pension, for business owners
Craig Simpson, Tax Partner at Bates Weston, considers the impact the Government’s proposed changes in the treatment of pensions for Inheritance Tax purposes will mean for business owners, and what can be done to prepare for them.
Inheritance Tax and Business Property Relief
How will the changes to Business Property Relief affect your Inheritance Tax bill? If you hold shares in your trading company or an interest in a partnership or sole trader, from 6 April 2026 you are likely to pay 20% inheritance tax on the value of your holding or interest above £1m. Why? Because of the changes to Business Property Relief announced in the Autumn Budget.
What are we expecting in the Autumn Budget 2024?
A round up of the major announcements we expect to hear in the Autumn Budget 2024 and what we know already.
Pre Autumn Budget Action
Craig Simpson, Tax Partner at Bates Weston considers the Chancellor’s likely plans at the Budget and what pre Budget action taxpayers may be able to take.
Capital Gains Tax and family succession
Craig Simpson, Tax Partner at Bates Weston considers the threat of Capital Gains Tax increases and the impact on family succession timing.
Budget date 30 October 2024
Rachel Reeves is building up to tax increases. Capital Gains Tax (CGT) and higher rate relief on pension contributions are the likely targets. Craig Simpson, Tax Partner at Bates Weston sets the scene for tax increases and the actions to consider.
EOT Deferred Consideration
Craig Simpson, Tax Partner at Bates Weston, considers the implications of using deferred consideration to pay outgoing shareholders when an Employee Ownership Trust (EOT) is created.
Capital Gains Tax hike on the way?
Should you consider accelerating your business disposal to capture the current rates of Capital Gains Tax?
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