Autumn Budget 2024 – Arneway Housing

Today, Rachel Reeves presented her first Budget, marking a historic occasion as the first Budget delivered by a female Chancellor. She focused on Labour’s bold plans to address the UK’s finances and invest in infrastructure across health, education, housing, and transport.

Key funding will comes from increased taxes, including a significant rise in Employers’ National Insurance contributions. Additional tax changes include higher rates of capital gains tax, adjustments to inheritance tax, and VAT on private school fees.

“Rather than ‘fix the roof while the sun is shining’, the Chancellor intends to ‘fix the foundations’ and to ‘invest, invest, invest’.”

Alastair McQuater, Partner, Corporate Tax

The Budget raises significant amounts to fund the government’s plans for long-term economic growth, but the test will be whether these changes lead to meaningful improvements in people’s lives.

Many of our clients will be concerned about the potential impact on their financial plans and how to prepare for upcoming changes. If you have any questions about how the Budget may affect your specific circumstances, please don’t hesitate to reach out.

Read our Budget analysis