Autumn Budget 2024: full summary

Download our complete Autumn Budget 2024 summary

Click here to download our full Autumn Budget 2024 summary.

Ms Reeves said the Budget will raise £40 billion in taxes. Employers’ National Insurance contributions (NICs) will be increased from next April while Capital Gains Tax rates will also rise. Inherited pensions will fall within the Inheritance Tax net from April 2027 while reliefs will be reformed on the passing down of agricultural and business assets. The Chancellor also confirmed the introduction of VAT on private school fees and the abolishment of the tax regime for non-UK domiciled individuals.

Ms Reeves said she would protect living standards by unfreezing the thresholds on Income Tax and employee NICs from 2028 while she extended the cut in Fuel Duty for another year. The Chancellor also pledged a decade of ‘national renewal’ with increased funding for schools and the NHS. Further spending announcements included housing, transport and the aerospace and automotive sectors.

Our full Autumn Budget 2024 summary contains a detailed breakdown of the Budget announcement and its impact on individuals and businesses, exploring the implications for personal and corporate tax, employees and NICs, IHT, the National Living Wage (NLW) and National Minimum Wage (NMW), taxable benefits for company cars, business rates and much, much more.

Watch our Autumn Budget 2024 question time webinar

Following the Autumn Budget 2024, our panel of experts examined the announcements made by The Chancellor, discussing what these changes mean for you. They also answered questions from our live audience. This webinar is now available to watch on demand here.

Alternatively, if you would like any further information or guidance on this topic, get in touch with your usual Kreston Reeves contact or contact us here.

Read more of our Autumn Budget 2024 insights

Below you can explore all of our different insights from the Budget.

• Top implications for businesses
• Top implications for individuals
• Increase in employer NIC rates
• Changes to Capital Gains Tax (CGT)
• Changes are coming for Inheritance Tax
• Pensions now subject to Inheritance Tax
• Overview of the changes to the non-dom regime
• Changes to the Inheritance Tax (IHT) regime for non-doms
• Temporary Repatriation Facility (TRF)
• Foreign Income & Gains (FIG) regime
• Another change for Stamp Duty Land Tax
• Private school fees
• Impacts on Academy Trusts