Commenting on the Chancellor’s Budget 2024 announcement, Emma Baylis, Managing Director at Interpath Advisory, and former Senior Policy Adviser to HM Treasury at the Office of Tax Simplification, said:
“This was a Budget full of theatrics and political point scoring and was scarce on fresh tax policy that could ‘change history’. Yet, the relative lack of new policy is what many management teams have been looking for, after a tumultuous few years of change, and may well embrace a fiscally more stable and quieter period so they can focus on recovering, investing, and trading.”
On M&A
“The M&A market is gathering pace as investor confidence returns. The tinkering in the budget with property capital gains tax suggests that the Chancellor has reviewed the wider CGT proposition and refrained from making any further changes for the foreseeable future. This will provide some comfort to those looking to sell their business and will encourage more mandates to come to the market. I also expect that non-domiciled entrepreneurs will be examining the proposed changes closely and considering what it means for their investment strategies.
“M&A activity should also be buoyed by the laser focus on cutting inflation – helping businesses to improve margins – and the attempt to boost consumer confidence and spending, not least through the NIC cut, which underpins investment appetite and future trading expectations.”
