“Jeremy Hunt waves through biggest tax burden since war in spring budget 2023”

Mar 16, 2023 | Budget

An independent (financial adviser’s) view

It may have seemed a Bland Budget, but that’s because Hunt got all the nasties out of the way in the Autumn Statement, in the hope, I guess, that we’ll have forgotten all about them by the time they hit us. Allowances frozen in the face of soaring inflation, NI and Corporation Tax up significantly. And perhaps the stealthiest of all and one that will unduly affect many of our clients, the slashing of Capital Gains Tax and dividend tax allowances. The latter means that those with shares or investments not in an ISA or pension worth not that much, £30,000 or so, are likely to have to pay tax and most annoyingly, complete a tax return. And many, I’d say a majority, will not have a clue that they should. A lot of stress for many, possibly elderly and not-that-rich people; and something I’m sure HMRC, too, could do without.

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“Rachel Reeves may be forced to raise taxes”

“Rachel Reeves may be forced to raise taxes”

Why did she/they (in the old sense) think that tinkering around with IHT and CGT would be enough to sort out the NHS; and the potholes; and…and the list goes on. My guess is  that they asked the Treasury for a list of anything not involving income tax that they could get away with lightly, although they should already have learned from the winter fuel stuff that all publicity is not good publicity.