06 November
By Chris Gumbley
Categories: Government/Industry News

Remember, Remember the…Autumn Budget!

As the time of year approaches where we gather around the bonfire and recall the traditional rhyme of Guy Fawkes and the Gunpowder Plot, our tax team are busy making sure we remember the upcoming Budget on 22nd of this month (they’re a dedicated bunch!)

Naylor Wintersgill tax partner Chris Gumbley has two possible changes for people to think about as the Chancellor’s announcements draw closer:

  1. Rates of Capital Gains Tax (CGT)

What could change?

Currently, rates of CGT are very low compared to the rates of Income Tax – will the Chancellor decide to increase this?

What could you do?

If you are thinking of selling something which would result in CGT being payable, you could try and finalise this before the Budget. If you can, you’ll know where you stand with any tax to pay and avoid apprehension about increasing rates.

  1. Tax Relief on Pensions

What could change?

“It’s that old chestnut” says Chris as he addresses rumours that the higher rate of tax relief may be abolished or alternatively be reduced to a lower rate of tax relief when paying a pension premium.

What could you do?

If paying a pension premium is currently on your mind, you could consider doing so before the Chancellor’s Budget announcements.

Not sure how the Autumn Budget will affect you and your business?

Join our tax expert Chris Gumbley and the Naylor Wintersgill team for a free Autumn Budget Breakfast on 28th November 2017.

Chris will not only help you make sense of the Chancellor’s speech but will also outline how the changes may affect you and your business.  Contact our events team on events@naylorwintersgill.co.uk to book your place now.