Autumn Budget 2024

Chancellor, Rachel Reeves, delivered her Autumn Budget on Wednesday 30 October 2024, introducing new tax measures to address public financing while pledging to “build a better Britain”, in the first Labour Budget since 2010. 

You can read the key changes and insights from EQ Accountants here.

John Blackwood, SAL chief executive, commented:

“With all the leaks and speculation ahead of the Autumn Budget, it was surprising that the chancellor had anything left to say at the dispatch box that we had not already heard.  

“Despite the hype and the urgent need for investment in more homes for rent, many will argue that the chancellor will further discourage investment in private renting by increasing the Stamp Duty Land Tax (SDLT) surcharge on the purchase of additional properties from 3% to 5% in England and Northern Ireland.

“The equivalent Additional Dwelling Supplement (ADS) in Scotland currently stands at 6%, which we know is a major barrier to many landlords investing in new homes to rent.

“Contrary to the rumours that Capital Gains Tax (CGT) might increase, landlords might be breathing a sigh of relief that things could have been worse. All attention is now on the Scottish Government as we await their reaction in the Scottish Budget on 4 December.”