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Impacts of the Latest Budget on Expats
Webinars • Impacts of the Latest Budget on Expats
With the UK Budget announced on October 30, 2024, we now have clarity on the changes introduced by the new Labour government. These include significant updates to capital gains tax, inheritance tax, pension regulations, and more. If you have financial ties to the UK, we’re here to help you understand how these changes could impact your financial plans and provide strategies to safeguard your future.
Join Our Exclusive Post-Budget Webinar
Head of Taxation, Mark Routen and UK Chartered Accountant, Daniel Abbott, explore the key changes in the new budget and provide actionable insights on how they may affect your taxes, investments, and long-term financial goals. Whether you’re concerned about capital gains, inheritance tax, pension rules, or other policy shifts, we’ll guide you on strategies to help mitigate potential impacts.
What Changed?
Capital Gains Tax: Rates on shares and other assets have increased to 18% and 24%, aligning with property disposal rates.
Inheritance Tax: Changes to pensions and asset-based reliefs mean that estates and small businesses may face new tax impacts, potentially affecting planning strategies.
Business Asset Disposal Relief: While the £1 million lifetime limit remains, the tax rate is set to increase to 14% in 2025 and 18% in 2026.
Income Tax and National Insurance: Personal tax thresholds will be adjusted for inflation in 2028-29, with new employer rates on national insurance and revised allowances.
Non-Domiciled Residents: From April 2025, the remittance basis regime will transition to a new residence-based regime, affecting foreign income and gains.
Making Sense of the New Budget with Hoxton Wealth
We understand that these budget changes may raise questions about your financial plans and impact your future goals. Our team is here to offer guidance and expert advice to help you manage these updates with confidence. If you’re affected by these changes and need advice, Hoxton is here to help. Get in touch to discuss how the new budget may impact you and understand the steps you can take moving forward.
Let's work together to secure your financial future.
Our Speakers
Mark Routen
Head of Tax
Mark brings over three decades of taxation expertise, initially with the Inland Revenue (now HMRC) and later with prominent accounting firms. Transitioning to entrepreneurship, he founded his own company, specialising in expat tax planning, with extensive experience in India and Hong Kong. Joining Hoxton in 2021, he spearheads the in-house tax division and is a distinguished member of the Chartered Institute of Taxation.
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