Tax Day 23 March: what might change?

Tax Day 23 March: what might change?

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Published: 22 Mar 2021 Updated: 13 Jun 2022

Tax Day 23 March: what might change?


With the UK national debt being at an all-time high since 1963 due to the pandemic, our speakers discuss whether we might expect to see a fundamental change to the UK tax system and what kind of planning we should be considering today.

Key topics of discussion

02:06 Capital Gains Tax

  • Where do we see the Capital Gains Tax (CTG) world moving to?
  • Why might the announced increase in Corporation Tax to 25% in two years’ time instigate an increase in CGT?
  • Should people be selling their second properties, getting rid of their shares and packing in all their investments?
  • Will an increase in CGT be enough to pay back the debt from the pandemic?

08:01 Wealth Tax

  • Could a Wealth Tax reform the tax system, or would it simply pay back the pandemic debt in a one-off payment?
  • Who would a Wealth Tax affect and would individuals be able to escape it?
  • How difficult would it be to implement?

13:25 Inheritance Tax

  • How might the Government tighten restrictions on the exemptions that exist within the Inheritance Tax (IHT) regime?
  • Would changes to IHT impact the debt caused by the pandemic?
  • Could IHT be replaced by a Gift Tax or a Wealth Tax?
  • What might be the planning implications for individuals?

17:24 Value Added Tax

  • Could the Government make changes to Value Added Tax (VAT) and how might it be implemented?
  • Can we have simplification and have a tax system that is fit for purpose?

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Contact us today if you’d like to speak to a Tilney expert about your taxes. You can book online or by calling 020 7189 2400.


This article was previously published on Tilney prior to the launch of Evelyn Partners.