After weeks of speculation, leaks, and briefings, Rachel Reeves was the first female Chancellor of the Exchequer to deliver a Budget Statement to the House of Commons. As expected, her speech was sombre, though intensely political – criticising the Conservative Party now in Opposition for what she repeatedly called their 14 years of failure and promising to “fix the foundations to deliver change”, especially in improvements in public services. The government’s Budget measures are predicted by the independent Office for Budget Responsibility to generate nearly £40bn in additional revenue in the 2025/26 tax year. We will be providing a more detailed analysis in due course but we have penned some initial thoughts on what was announced on our website, covering the following key areas: Non-dom reforms Inheritance Tax (IHT) Capital Gains Tax (CGT) UK Property
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