VAT and other indirect taxes
No major changes, only some minor points of interest.
Asset Income Shakeup
Additional taxes on investment income to more closely align with PAYE and National Insurance on salaries.
Government promises savings, including “cutting the cost of politics”
Abolishing Police and Crime Commissioners, reducing local councillor numbers and the disposal of government assets to generate savings and cash.
Reeves’ “scale-up” plan
Rachel Reeves opened her 70-minute Budget speech vowing to make it easier for entrepreneurs to start, scale and stay in the UK by expanding current tax measures, which she hopes will incentivise greater investment into scaling companies, as well as attracting and retaining high-calibre candidates.