NIC to apply to salary sacrifice pension arrangements from April 2029

n a bid to encourage more people to save into stocks and shares, the current £20k per annum allowance for investing in ISA will be restricted to £12k per annum for investment into a cash ISA.

As expected, a new High Value Council Tax Surcharge was announced which will kick in from April 2028 and apply to homes worth over £2m.

Under current rules, if you sell more than 51% ownership of your business to an Employee Ownership Trust then there is a 100% relief, and no Capital Gains Tax has to be paid on the sale.

Two new, lower, multipliers will be introduced for these sectors from April 2026, in a bid to permanently reduce business rates for affected businesses.

It was today announced that the government are introducing a new Electric Vehicle Excise Duty (eVED) from April 2028 which will impose a charge of 3p per mile.

The Budget documents confirm that the current 100% capital allowance that applies to the purchase of new electric vehicles and charge points will be extended for a further year until 31 March 2027.

It was also announced today that the government will introduce a new 40% first-year allowance for the purchase of main rate assets, to encourage investment, although this does not include the purchase of cars or second-hand assets.

Currently, assets which are not eligible for the Annual Investment Allowance or First Year Allowances, including hybrid cars, and second-hand electric cars, are subject to the main rate writing down allowance of 18% per annum.

The Labour government announced last year that the current 100% Inheritance Tax relief for shares and other business/agricultural assets will be restricted to £1m from April 2026 and, unlike other Inheritance Tax allowances, it would not transfer between spouses.

I’ve said it before and I’ll say it again: How do you put up tax without putting up tax?