Labour government

What the new Labour government means for you and your business

As the Labour government takes office, we want you to know we’re here to help you navigate the changes that may impact you and your business.

 

Below we’ve covered some of the key areas where we might see changes in the coming months.

 

If you’d like to discuss any of the issues covered in this article in more detail, click the button below to request a call back from our expert team.

 

VAT and private schools

Potential VAT changes for private schools could have significant financial implications for both parents and schools. Read more about how to navigate the changes here.

 

Non-domiciled tax status (Non-Doms)

The Labour government has long promised to end the non-dom regime, although we are awaiting further details. Those potentially affected should consult their tax advisors to understand the implications, assess their assets, and explore available options.

 

Closing the carried interest ‘loophole’

Private equity managers stand to lose their carried interest, bringing in a further £565m a year. For those in the private equity space, it may be sensible to review your structures now to understand the impact for you and explore what could be done to mitigate the tax changes. Read more about carried interest here.

 

Increased Stamp Duty Land Tax for non-residents buying property in the UK

This policy will increase the tax burden on those investing in the UK property market from overseas. We work with many overseas property owners, and if you want to have a chat with one of our experts about your specific scenario please let us know.

 

 

 

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