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Autumn Budget 2024: report

A detailed report by Lexis®+ UK Tax, including practitioner insight.

Key announcements included:

  • an increase to employer NICs from 13.8% to 15% with effect from 6 April 2025 (with a reduction in the secondary threshold to £5 000 per annum)
  • an increase to the CGT rate for carried interest to 32% with effect from April 2025 and the announcement of a revised regime for carried interest which will sit within the income tax framework (with carried interest being treated as profits of a deemed trade and subject to income tax and Class 4 NICs but the amount being brought into charge being adjusted by applying a 72.5% multiplier) and which is intended to have effect from 6 April 2026 (along with the launch of a consultation on options for additional qualifying conditions for access to the new regime)
  • an increase of 2% to the SDLT higher rates for additional dwellings...

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