No major tax reforms were announced in the recent Budget, although it introduced some small tax changes relevant to investors, savers, business owners and retirees.
- Inheritance Tax remains the same, while changes to Capital Gains Tax were relatively modest and likely to affect a minority of taxpayers.
- Higher tax rates on savings and rental income are expected to have a broader impact.
- The reversal of previously proposed changes to ISA allowances provides some welcome relief for savers.
In this summary
Find an overview of the key measures announced and the changes taking effect over the coming years.