LNB News 30/10/2024
Document Information
Issue Date: 30 October 2024
Published Date: 30 October 2024
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
In the Autumn Budget 2024, on 30 October 2024, the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, announced a series of measures aimed at promoting growth and investment in UK businesses. A series of tax rises, aimed at raising £40bn, include increases in the Capital Gains Tax (CGT) rates for selling shares, a reduction in the Inheritance Tax (IHT) relief available on shares in AIM companies and an increase in the rate of CGT on carried interest payments for private equity investors. Alongside the Autumn Budget, HMRC have published two policies papers on corporate tax anti-avoidance measures for close company shareholders, and capital gains for limited liability partnership liquidations. Silvana Van der Velde, Director of the Corporate Tax Team at Burges Salmon, comments on these measures.
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