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November 2024

What are the changes to employer National Insurance in 2025? | Employer's National Insurance Increases for 2025

As widely predicted, the Chancellor announced increases to the rate of National Insurance contributions (NICs) paid by employers in the 2024 autumn budget. The primary rate of secondary Class 1 NICs will increase by 1.2% to 15% (from 13.8%) effective 6 April 2025. The Class 1A and Class 1B employer rates will also increase in line with this change.  

Jonathan Green
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What does the new Autumn budget mean for farmers? | What is the new inheritance tax on farms?

The Autumn Budget 2024 is hugely significant for the agricultural sector. Farmers are often asset rich but cash poor, meaning in the absence of inheritance tax (IHT) reliefs the next generation would have to break up their farm to meet IHT liabilities. This would then threaten a reduction in available land for food production and so ultimately potentially have an impact on food prices. A number of changes in the Autumn budget negatively affect the farming sector.  

Esme Shakeshaft
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Understanding the Changes to Stamp Duty Land Tax in the Autumn Budget | How will property sales be affected?

As part of the autumn budget measures, it was announced that the higher rates of Stamp Duty Land Tax (SDLT) on purchases of additional residential properties will increase to 5% (from 3%) for transactions effective on or after 31 October 2024.  

Mike Wakeford
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What are the Capital Gains Tax rates in the autumn budget 2024? | Is Business Asset Disposal Relief changing?

The autumn budget announced that the rates of Capital Gains Tax (CGT) are to be increased with immediate effect. The main rates of CGT that apply to assets other than residential property and carried interest will increase from 10% to 18% (for Income Tax basic rate payers) and from 20% to 24% (for Income Tax higher rate payers). The capital gains tax changes are applicable for disposals made on or after 30 October 2024.  

Mike Wakeford
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