Autumn Budget 2024 – Full Summary
Chancellor Rachel Reeves delivered her Budget on 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’.
Cryptoasset investors urged to declare gains
HMRC has reminded investors in cryptoassets that they should declare any income or gains above the tax-free allowance on a tax return.
CGT higher rate on dwellings reduced
The higher rate of capital gains tax (CGT) for residential property disposals will be cut from 28% to 24% from 6 April 2024.
Furnished holiday lets relief to be scrapped
Owners of furnished holiday lets will lose their entitlement to favourable income tax, capital gains tax and capital allowances as the FHL scheme is abolished.
Autumn Statement 2023
On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses.
New laws for divorcing couples
New laws for divorcing couples make separating easier and more tax efficient, especially for farming couples.