Budget Hub
The Autumn Budget 2024
Key Announcements
- Plans to include an individual’s undrawn pension fund in their inheritance tax estate from April 2027.
- Plans to restrict inheritance tax agricultural and business property reliefs from April 2026.
- Another change in approach for businesses utilising double-cab pick-up vehicles, coming into effect in April 2025.
- From April 2025, many employers will face increased costs due to a 6.7% rise in the national minimum wage, bringing it to £12.21, and substantial reforms to employers’ national insurance contributions, which will increase from 13.8% to 15%.
- Confirmation that 20% VAT will apply to private school fees for the school term beginning in January 2025.
- Immediate increases to Stamp Duty Land Tax, including for those buying residential property when they already own at least one dwelling.
- Immediate increases to capital gains tax rates with further uplifts in relation to some business disposals from both April 2025 and April 2026.
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Jerroms Mortgage & Finance Ltd is registered in England and Wales. Registered number 11459888. Registered Office address as above. Authorised and regulated by the Financial Conduct Authority (reference number: 829252). Mortgages Together, Stratford Corporate Finance and Business Finance Quote are trading names of Jerroms Mortgage & Finance Ltd. VAT No. 326 4715 04.
Jerroms Financial Planning is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference 300784. Registered in England and Wales under reference 4710626. Registered office address: Lumaneri House, Blythe Gate, Blythe Valley Park, Solihull, West Midlands B90 8AH.
Client Directors of the firm are not directors of Jerroms and are not subject to the obligations and responsibilities of directors within Part 10 of the Companies Act 2006.
Jerroms is a trading style of both Jerroms Business Solutions Limited (08923059) and Jerroms GCN Limited (08433008). Registered Office for each of these Companies is: Lumaneri House, Blythe Gate, Blythe Valley Park, Solihull, West Midlands, B90 8AH. A list of directors is open for inspection at the Registered Office.
