31 October 2024
Maurice | Turnor | Gardner – Budget Update
Claire Weeks, Jennifer Emms and Paul Whitehead
Having waited 19 weeks from the election to deliver the first Budget, Chancellor Rachel Reeves seemed eager to prolong her moment in the spotlight with a speech that would seemingly never end. However, there was very little that had not already been leaked/pre-announced (for which the deputy speaker admonished the government).
In this briefing, we provide an overview of the headline issues for all private clients with a UK tax nexus. We then turn to the reforms that are specific to those with carried interest and finally to the detailed measures for non-UK domiciliaries and “long term UK tax residents” (where we now have draft legislation). As ever, the “devil is in the detail”.
Claire Weeks
Partner
Claire Weeks combines a dynamic insight into complex tax matters with a dedicated approach to her client relationships.
Jennifer Emms
Private Client Partner
Head of Charities
Named a ‘rising star’ by legal directories, Jennifer’s practice spans a range of private wealth and charity law matters as well as commercial trusts.
Paul Whitehead
Partner
Paul is a Private Wealth specialist with an emphasis on complex tax and trust issues including considerable experience advising international and UK-based HNW clients.