Chancellor Rachel Reeves' Budget introduces £40 billion in tax hikes, primarily through employer National Insurance contributions, impacting SMEs with higher costs per employee.
While the anticipation of significant tax changes existed, Nimesh Shah emphasizes that the actual announcements were focused yet substantial, reflecting serious implications for businesses.
The adjustments in Capital Gains Tax rates, particularly the rise to 18% for basic-rate taxpayers and 24% for higher-rate taxpayers, will notably affect entrepreneurs and their tax burdens.
A temporary repatriation facility offers non-doms a chance to remit overseas funds at a reduced tax rate, raising questions about inheritance tax implications and future tax strategies.
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