Labour has won the general election and Sir Keir Starmer will become the UK’s next Prime Minister. But what tax changes can we expect to see under a Labour government?
“The first of these has caused a stir but the proposed timings for its introduction are not clear. As measures would become law only after being passed by MPs in their first Finance Bill and, given that the retrospective taxing of fees seems out of scope, the earliest possible opportunity for changes to take effect would be the start of the spring term in January 2025.
“During the campaign there were much publicised claims from the Tories that a Labour win would mean a £2,000 tax rise for every working family, which Sir Keir Starmer strongly denied. We shall have to wait and see what the pledge to not raise taxes on working people means for other areas as they look to fund their manifesto commitments.