The UK Chancellor of the Exchequer, Rachel Reeves, has delivered the Autumn Budget 2024.

In the first Budget delivered by the Labour Party since 2010, Reeves announced an extensive array of tax reforms designed to 'stabilise' public finances and facilitate increased government spending.  Altogether, tax rises totalling £40 billion were announced - some expected, others less so.

In our latest podcast Peter Clements, Sarah Bond, Rose Swaffield, Josh Critchlow and Chris Gotch from our London tax team discuss the tax measures they found the most noteworthy in the Autumn Budget 2024, including:

• Headline Budget announcements, including:
  

• increases in the capital gains tax (CGT) main rates and reforms to business asset disposal relief and investors' relief, accompanied by anti-forestalling measures;

• capping the headline UK corporation tax rate at 25%;

• an increase in the interest rate for unpaid tax;

• confirmation the UK will introduce the Pillar Two undertaxed profits rule (the 'UTPR') for accounting periods from January 2025, along with the related repeal of the offshore receipts in respect of intangible property (or 'ORIP') rules;