Chancellor Rachel Reeves has delivered the 2024 Autumn budget, with key tech policies including funding for clean energy and climate tech projects, support for the life sciences sector and the protection of R&D tax relief.
The budget speech also included a number of tax policy announcements affecting the financial burden on founders and investors.
Here are the key policies affecting UK tech businesses from the 2024 Autumn budget.
Capital gains and NI hikes
With VAT, income and corporation tax hikes off the table, Labour has looked to capital gains as a way to plug the oft-mentioned “£22bn blackhole” left in the UK’s finances by the Conservatives.
The lower rates of capital gains tax will rise from 10% to 18% and the higher rate will rise from 20% to 24%, which the chancellor said was “still the lowest capital gains tax of any European G7 economy”….
