Craig Simpson, Tax Partner at Bates Weston looks at Inheritance Tax, in particular Business Property Relief and considers what plans Rachel Reeves might have in store for the Autumn Budget.
The Chancellor, Rachel Reeves, sets out her plans for planning system reform in her first major speech today. You can see her 7 point plan here.
The headlines from the Autumn Statement 2023 and a more detailed summary. Covers National Insurance, Capital allowances, Business rates and R & D.
Will the Chancellor use Corporation Tax measures in reducing business taxation in the Autumn Statement? He could reduce the rate of Corporation Tax, extend the Corporation Tax Bands and/or extend full expensing? Craig Simpson, Tax Partner at Bates Weston gives his views.
In an update to the mini budget, the Chancellor has cancelled his plans to abolish the higher 45% rate of Income Tax. We have update our Mini Budget Summary Report to reflect this.