Advisers claimed they initially felt relieved following chancellor John Healey’s speech as there was no “immediate worry or need for change” for most clients. However, frustration has grown after delving into the details of yesterday’s Budget as “the overall tax take still rises”.
Healey delivered his first budget yesterday (28 October) which he claimed would offer "breathing space in the here and now" for families and businesses. Income tax – excluding property income tax - National Insurance and VAT rates all escaped hikes for another year. Property income tax is due to rise by four percentage points in April 2027. Previously speculated as a favourite in government for tax rises, headline CGT rates also managed to dodge major changes. ‘Irritation at the detail' Dennis Hall, founder and chartered financial planner, Yellowtail, said his initial reaction...
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