UK budget: financial services sector reaction
View original at finance.yahoo.comUK budget: financial services sector reaction It is, says the government, a budget to support working households and UK businesses. Critics will argue that it represents a £26bn rise in taxes and more election promises broken…
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2025 Budget locks in structurally higher tax environment that will alter domestic capital flows and retail trading patterns for long term
80% confidenceLISA has ability to have huge impact on retirement prospects for groups such as self-employed
80% confidence88% of UK finance leaders believe restricting employees' access to budgets actually stifles business growth
80% confidenceStamp duty holiday likely to encourage investment in UK IPOs and companies to list on LSE
80% confidenceHSBC UK pleased to make available over £11 billion of measures to back businesses and households
80% confidenceUK's top 1% of taxpayers contribute to a third of all tax revenue
80% confidenceLifetime ISA has provided essential boost for hard-pressed young buyers desperate to get onto property ladder
80% confidenceHSBC UK is proud to support over 15 million customers
80% confidenceChancellor has delivered blow to investor and early-stage businesses by slashing tax relief on VCTs
80% confidenceWill create 1,000 highly skilled jobs over next five years
80% confidenceDecision not to increase levies or add new regulatory burdens on banks was welcome
80% confidenceYou don't pay national insurance on dividend or savings income, whereas you do on employment income
80% confidenceChancellor expecting to raise £2.1 billion overall through personal tax rises
80% confidenceLarger cushion against fiscal rules will reduce likelihood of further fiscal tinkering in next Budget
80% confidenceQuestion marks remain as to whether measures will be effective in restoring trust among non-doms and preventing further departures
80% confidenceLandlords may attempt to offset increased tax burden by charging higher rents
80% confidenceUK equities have lost over £1.9 trillion to global markets since 2000
80% confidenceUK ownership of domestic equities fell from 96% in 1981 to 42% in 2022
80% confidenceRight consultation on LISA replacement is vital and needs to ensure dedicated savers aren't disadvantaged
80% confidenceTax relief on VCTs would be cut from 30% to 20% following 2025/26 financial bill
80% confidenceFocus shouldn't be on hastily cutting costs but being smarter about where spend goes
80% confidenceTax rise could put more pressure on already strained rental market as landlords might look to sell properties
80% confidenceToday's announcement on Lifetime ISA will be worrying for those who rely on it for retirement savings
80% confidenceWould be prudent to expect more enquiries into reorganisations, share buy-backs, goodwill valuation and business-property relief optimisation
80% confidenceNear-term impact will be tighter domestic liquidity as households absorb fiscal shift
80% confidenceTenants as well as landlords will pay the price for Chancellor's move to increase Property Income Tax
80% confidenceChancellor has added 2% tax to dividend and savings income, making it 2% higher than equivalent income tax on employment income
80% confidenceBudget is to support working households and UK businesses
80% confidenceNearly a quarter of taxpayers will be paying higher rate by 2030
80% confidenceTax change seems counter to Government's growth agenda
80% confidence
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