Blog

On 11 November, peers debated measures announced in the Budget with some accusing the government of being ‘dishonest’. Peers argued that the increase in employers’ national insurance contributions (NICs) will adversely impact businesses and lead to an increase in unemployment. The minister disagreed.

MPs have agreed the Budget resolutions following five days of debate on the 30 October Budget. Changes to agricultural property relief and employers’ national insurance contributions were amongst the most discussed topics with opposition MPs attacking the proposals and Labour MPs welcoming the tax changes as necessary for a fairer Britain.

The Government has “set the envelope” for spending in this Parliament and will not be “coming back with more tax increases”, the Chancellor has told MPs.

Changes to inheritance tax (IHT) reliefs and exemptions are among the most controversial changes in Rachel Reeves’ first Budget. This explainer sets out some of the background and arguments for and against the changes.

The biggest tax increase in the new government’s first Budget was to employers’ National Insurance. But what is National Insurance? How does it differ from income tax? And how does employers’ National Insurance differ from that paid by employees and the self-employed?

The House of Lords has held two mini-debates on the introduction and impacts of VAT on independent school fees. Responding to peers’ concerns, ministers claimed that schools would be able to absorb a ‘significant’ proportion of the new VAT liability and that HMRC is ready to provide support to schools.

During a Westminster Hall debate MPs questioned the government about Budget speculation on possible changes to two inheritance tax reliefs.

Five days before the Budget we take stock of speculation and expectations for Rachel Reeves’ statement on Wednesday.

According to media reports the chancellor will be making changes to inheritance tax (IHT) at the Budget. Our explainer identifies the most likely changes and the arguments for and against them.

The Chancellor is rumoured to be considering increases to capital gains tax for her Budget. Our explainer looks at what she might announce, the pros and cons of each possible measure and how capital gains tax works.