Budget Date Confirmed: November 26 – What It Could Mean for Transactions

The Chancellor has now confirmed that the next Budget will take place on Tuesday, November 26 – later than many anticipated, and no doubt giving the Treasury as much time as possible to work out its next moves.

While last year’s Budget appeared to draw a line under speculation around Capital Gains Tax (CGT), the government’s fragile finances mean the risk of increases remains firmly on the table. Any rise could take effect immediately on Budget day.

That possibility means time is of the essence for anyone currently involved in a transaction. At HURST, we are working hard to ensure that deals already in progress can be completed before November 26. The additional time ahead of the announcement is welcome, but it’s clear that those considering offers now should weigh up the potential tax risks carefully.

For businesses looking to tidy up their shareholder base, such as buying out minority shareholders, completing these transactions ahead of the Budget could prove highly beneficial. Similarly, companies with untaxed loan notes should consider accelerating payments to avoid being caught by any future increases.

The good news is that three months is sufficient time for well-prepared businesses to complete planned transactions, and our team is ready to work with clients to assess whether accelerating plans makes sense in their circumstances.

The annual cycle of uncertainty around tax changes is far from helpful, and we hope that this year’s speculation will finally mark the end of the guessing game. Until then, the message is clear: now is the time to act.

Contact us as soon as possible to discuss your options. Imagine@hurst.co.uk