Rachel Reeves accused the Tories at the end of July of leaving an “unforgivable” £22bn “black hole” in the public finances, as she set out a series of spending cuts and warned that there will tax rises in the Budget on 30th October.
Having already pledged there will be no increases to the basic rate of Income Tax, National Insurance, Corporation Tax or VAT, it is clear the so called ‘stealth taxes’ such as Capital Gains Tax, Stamp Duty and Inheritance Tax will be in the sights of the new Chancellor.
Consequently, our advice to Sellers (especially to those of long held property assets that will have dramatically increased in value), who are thinking of selling in the future, is to fast track that sale and enter our next auction which is being held ahead of the Budget on the 16th October.
