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Autumn Budget 2024
Key Impacts on Taxes, Pensions, Personal Finance & Business Finance
Chancellor Rachel Reeves' Autumn Budget aims to address a £22 billion fiscal deficit, introducing measures to raise £40 billion to support government programmes and enable borrowing for growth initiatives.
Key highlights include a windfall tax on energy companies, green investment incentives, AIM market adjustments, stamp duty changes, and a continued fuel duty freeze.
Pension tax relief and tax-free cash remain unchanged. But Reeves announced a significant change: from April 2027, inherited pensions which form part of your estate, could now be subject to inheritance tax (IHT). This shift marks a notable development in retirement planning.
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Disclaimer: This report is for general information only and does not constitute advice. Consult an Independent Financial Adviser before making any decisions based on the information provided. This information was accurate, to the best of our knowledge, at the time of writing.
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