Chancellor Rachel Reeves has finally revealed the details of her much-anticipated, and feared, Autumn Budget with peoples’ pensions, savings and taxes in line for an overhaul.
Among the notable announcements include the changes to inheritance tax (IHT) and capital gains tax (CGT), a boost to the the minimum wage and the hike to National Insurance contributions for employers.
Politicians, campaigners and analysts are debating who the winners and losers of Budget 2024 are.
However, how much are you in line to lose, or gain, from the Chancellor’s fiscal statement?
GB News has teamed up with tax and advisory firm Blick Rothenberg, providing a free online Budget 2024 calculator.
Simply fill out the relevant fields in the tool below, and find out whether you’ll be better off or not.
Can’t see the Autumn Budget 2024 tax calculator? Click this link instead.
How will today’s Autumn Budget announcements affect you? If you’d like to share your views, email us at money@gbnews.uk.
In reaction to the Budget, tax partners at Blick Rothenberg broke down what the Budget likely means for the economy.
Simon Rothenberg, a partner at the firm, shared: “Rachel Reeves has put all her eggs into the investment will deliver growth basket.
“If the global economy enters a recession and tax take is lower than expected, given the promises made here she will struggle to reverse.
“I hope this isn’t the case and that her plans do deliver the investment and growth we all need to improve the economy.”
Robert Salter, the company’s director, added: “The Government’s Budget calls for more employees in a number of areas including teaching, SEND support, town planning and the wider building sector.
“However, the reality is that one cannot simply ‘pick up’ skilled staff in these areas and there doesn’t appear any real Government policy, at least at this stage, to train and develop staff in these areas.”
The Chancellor outlined her economic vision for the country earlier today
PA
