RSM UK QUESTIONS REEVES’ UPCOMING “SMORGASBORD” TAX BUDGET
https://s.yimg.com/ny/api/res/1.2/.xfP60ZEZf0pvCzcXMByCA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD02NzU-/https://media.zenfs.com/en/international_accounting_bulletin_542/609353c46f4d399da32b17ddf5c72bd3
✍️ Rachel Reeves is reportedly preparing a variety of 'bite-sized' tax adjustments to help balance the nation's finances, with potential measures including reforming the dividend tax and introducing a lifetime cap on Individual Savings Account (ISA) contributions.
👉 Reforming the dividend tax to increase the basic rate from 8.75% to up to 16.5% 👉 Introducing a £100k lifetime cap on Individual Savings Account (ISA) contributions 👉 Extending the potentially exempt transfer (PET) period from seven to ten years for inheritance tax (IHT) 👉 Abolishing the residence nil rate band for IHT 👉 Other potential measures to raise an estimated annual revenue of about £13.5bn
-- #RachelReeves #ThomasPugh #ChrisEtherington #politics
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