What are you expecting to be announced in the Autumn Statement?

As usual there is plenty of speculation on what will appear in the forthcoming Autumn Statement – but what are you expecting to be announced? Send us your suggestion! Here’s what various Moore Stephens partners, staff and clients predict.

“My prediction is a giveaway to all tax payers – but only if he is still Chancellor after May 7!”
Mick Lumsden, Partner, Peterborough

“The Chancellor will keep his powder dry for the pre-election budget and just mop up pre-announced measures”
Hazel Johnson, Private Client Tax, London

“The Chancellor should smooth income tax rates, so that liability does not suddenly double from 20% to 40% at a relatively low level of income.”
David Williams, Tax Technical, London

“The Chancellor will appeal for votes from beyond the grave with an increase in the IHT threshold”
Andy Hancock, Partner, Peterborough

“In an election year I expect two things: firstly a large increase in IHT thresholds, and secondly extended business rate relief provisions”
Ian Canham, CEO of Broadgate Homes

“Companies owned by charities to pay 0% tax on the first £20k profits, to reduce red tape and improve credit rating without leaking tax.”
Gillian Donald, Partner, Moore Stephens Edinburgh

“The establishment of a body to review council tax bands to report within a year – pre-empting the so-called ‘mansion tax’ without immediately scaring anyone.”

“Taxing the winter fuel allowance by automatically adding it to an individual’s taxable income – this will raise funds from the ‘rich’ without prejudicing the ‘poor’.”
A private client, London

“We will hopefully have greater clarity on the proposals to introduce CGT from April 2015 to non residents disposing of UK residential property, so that certainty and confidence in the market place is increased.”
Steve Wheeler, Partner, London

“We may get some indication of possible changes to UK rules that permit cross-border group relief in limited circumstances. The UK group relief rules were relaxed following the European Court ruling in the long running Marks and Spencer case. Recent pronouncements by the Advocate General could lead to this relaxation being withdrawn in the future.”
Timothy Fussell, Partner, London

“Given the on-going need to raise revenue, it is inevitable that more anti-avoidance provisions will be rolled out.”
James Bailey, Business Tax, London

“It is difficult to predict what measures the government will take in response to the ongoing OECD  project on base erosion and profit shifting (BEPS). Keen to champion the reforms, it may well ride the current wave of anti-avoidance sentiment to become an early-mover by proposing specific changes now. However, if as some predict the UK tax take actually reduces as a result, this will make the job of eliminating the budget deficit even harder. Prediction – first hard proposals on BEPS.”
Kevin Phillips, Partner, London

“Mansion tax – things may get worse before they get better as this wealth tax gains voter traction beyond the M25.”
Norma Chisholm, Business Tax, London

“Possibly the furthest reaching of all these is the implementation of a CGT charge on non-residents. We may now see the detail and the question is not whether but just how bad will it be?”
Jackie Wheaton, Business Tax, London


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