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.
 

Rachel Reeves delivered her first Budget as Chancellor of the Exchequer on 30 October 2024.

It was a confident and inspiring presentation by the first female Chancellor of the Exchequer in British history.

The Budget aims to deal with the ‘ black hole’ in public finances whilst supporting economic and fiscal stability, increasing investment and rebuilding public services.

When is the budget taking Place?
There is unlikely to be much to celebrate when Rachel Reeves delivers her first Budget on the 30th of October.
 
Speculation is rife regarding the likely targets for tax changes and increases. We have listed a few of the more persistent predictions below. But note, these are just predictions, and there will no doubt be “surprises” when the Budget details are released.

In the Autumn Budget the Chancellor announced that the “off payroll” workers rules that currently apply in the public sector would be rolled out to the private sector in 2020. The government have now issued a consultation paper that sets out proposed tax and national insurance changes that will impact on those supplying their services through personal service companies.

With the Government already having pledged to end austerity, the Chancellor had to loosen the purse strings in his Autumn Budget. Fortunately, better than expected growth and borrowing forecasts gave scope for a few extra voter-pleasing announcements.