The recent autumn statement has brought further changes the tax landscape in the UK. The changes to SDLT as set out in the ‘mini-budget’ were at the time permanent however the changes to the nil-rate thresholds will now remain in place until 31st March 2025, at which time they will be reversed.
The Nil Rate Band has been frozen at £325,000 (as it has been since 2009) and the Residence Nil Rate Band frozen at £175,000 until April 2028.
The annual exemption for Capital Gains tax will be reduced from £12,300 to £6,000 in the tax year 2023/2024 and then further reduces to £3,000 from April 2024.
If you would like to discuss how these changes might affect you please do not hesitate to contact us, fill out our contact form, and we would be happy to discuss your requirements in further detail.
