The Chancellor of the Exchequer, Rachel Reeves, is due to make her budget statement at 12.30 today. The Gazette will cover announcements relevant to lawyers - and reactions from the profession and others

 

 12:00 pm: Accidentally published analysis by the Office of Budget Responsibility includes the following tax announcements: 

  • Reduced capital gains tax relief on disposals to employee ownership trusts, which raises £0.9 billion; 
  • A high value council tax surcharge on properties worth over £2 million, raising £0.4bn;
  • Tax administration, compliance and debt collection measures, which raise £2.3bn

11:30 am: Tax expert and former magic circle partner Dan Neidle lists an announcement on 'promoters of tax avoidance’ as one thing to look out for in the small print.