Financial Focus

Rachel Reeves’s Autumn Budget, the first of the new Labour government, pointedly avoided direct tax increases on individuals. However, increased employer NICs for 2025/26 are likely to test already stretched profit margins for many businesses.

Additional hikes to capital gains tax and the extension of the reach of inheritance tax will affect business owners and others who do not consider themselves particularly wealthy. If the latest legislation has left you concerned about your estate and legacy, transferring assets to your spouse or civil partner may be enough to mitigate potential liabilities.