Autumn Budget Flash Call

On Thursday 31 October we held a Flash Call to provide our immediate responses to the UK Chancellor's Budget.

The Budget on 30 October was the first Budget of the new Labour administration following the July General Election. It was also a Budget that was heavily scrutinised from both a tax and spending perspective given revelations about a black hole in government finances. As a result, the warning that difficult and painful measures would be needed in the Budget led to an expectation of tax rises in various areas, exacerbated by the long lead time to the Budget.

One area that was dealt with in the Budget was the question of the taxation of carried interest. The Labour government carried out a short Call for Evidence on how the regime might better reflect the economic characteristics of carried interest with the promise of further announcements at the Budget. Another area was the changes to the non-dom tax regime, building on the reforms announced by the previous government.

To listen to the recording of our tax experts discussing these key tax measures and their potential impact on the finance industry and wider economy, register now.