Olly Cheng, financial planning director at Rathbones Financial Planning and Rob Pullen, tax partner at RSM discuss how the changes to reliefs, allowances and tax rates might be mitigated considering different client scenarios.
Article last updated 19 December 2024.
In one of the most anticipated Budgets in recent history, Chancellor Rachel Reeves raised £40 billion of taxes, which will fall predominantly on businesses and the wealthy. With a Labour manifesto that promised to protect “working people” and boost economic stability and growth, there was much speculation over how the £22 billion black hole in the nation’s finances would be filled.
9 mins
Big changes to taxes, spending and the fiscal rules. Rachel Reeves used her long-awaited first Budget to hit reset, with big increases in tax and spending alongside a major change to the fiscal rules. While there are significant implications for individuals’ financial planning as capital gains and inheritance tax change, this article focuses on the potential effects on the UK economy and financial markets.
4 mins
Former President Donald Trump has retaken the White House on a policy of widespread tax cuts, reduced immigration and lessened regulation. Bond investors aren’t happy, but shareholders are.
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