Description
KEY HAVEN PUBLICATIONS LTD
TAX PLANNING POST THE BUDGET SPEECH NOVEMBER 26TH 2025
An Afternoon Seminar December 9th 2025
The Law Society, 113 Chancery Lane, London WC2A 1PL
SPEAKERS
Robert Venables K.C. (Chairman)
Ross Birkbeck
Patrick Boch
Rebecca Sheldon
The speakers are all practising barristers and members of Old Square Tax Chambers,15 Old
Square, Lincoln’s Inn W2A 3UE: Website: www.taxchambers.com, Contact:
[email protected] or 020 7242 2744
THE IMPORTANCE OF THE BUDGET SPEECH
The Government, hampered by MPs in its own party, is failing in its attempts to cut back public expenditure. It cannot go on borrowing indefinitely to finance the deficit: the yield on 30-year gilts is the highest it has been since last century. Its avowed policy of increasing the tax yield by stimulating growth in the economy has been stymied, not least of all by tax increases it itself has already made.
So it will have no alternative but to raise taxes. Yet its ability to do so in simple, obvious, ways is constrained by its manifesto commitments.
Over the summer a number of sometimes startling proposals have appeared in the press. It
appears that many of these may have been leaked to test public reaction. The government is under pressure from the left wing of its party to tax the rich even more, which would simply drive away even more wealthy tax payers to more friendly jurisdictions and make the United Kingdom a less attractive place for foreigners to invest in or carry on business in.
The public will not know until November 26th what changes to our tax law the Chancellor will propose.
The aim of this seminar will be to provide informed comment on the Budget proposals, whatever they may turn out to be and how one can best plan to limit their impact.
Possible changes include:
Inheritance Tax
Imposing Higher Tax Bands
Reversing or Modifying the Finance Act 1986 changes to take us back to or towards the Finance Act 1975 regime: abolition of PETS, making PETS less attractive by extending the qualifying period for definitive exemption and / or withdrawal or reduction of taper relief or by imposing a cap on the total value transferred, cumulation of chargeable transfers of values with ones made more than seven years previously (under Finance Act 1975 there was lifetime cumulation of gifts and estate) in determining the rate of tax – abolition or restrictions of reliefs such as normal expenditure out of income relief and / or exemptions.
Yet further restrictions on Business Property Relief and Agricultural Property Relief and
favourable treatment of employee benefit trusts and gifts made to them.
Changes to gift with reservation of benefit provisions.
Further charges on pension pots.
Capital Gains Tax
Abolition or restriction of principal residence relief
Abolition or restriction of tax-free uplift in base cost on death
Pensions
Reduction on amount of contributions qualifying for relief and / or limiting relief to basic rate – reduction or elimination of tax-free lump sum withdrawals.
See also under inheritance tax.
National Insurance Contributions
Increases in rates of contributions – extension of the base to include additional types of income
e.g. income property and / or all income – removal of exemption for those over pensionable age
Property Taxes
Changes to stamp duty land tax – New SDLT-type tax on vendors of properties – New annual
property tax based on property value.
Value Added Tax
Extended the tax base by removing exemptions and zero-rating – taxation of supplies of private healthcare
New “Solidarity Taxes” (such as are be found in some EU countries). Usually in effect, disguised additional rates of tax on income and / or chargeable gains.
TIMETABLE
Note: the precise range of talks cannot be determined until after the Budget Speech
13.00 Arrival and Registration with Refreshments
14.00 Chairman’s Introduction – Robert Venables K.C.
14.10 to 15.35 Talks
15.35 Discussion Session with Refreshments
15.50 – 1700 Further Talks17.00 Questions to Speakers and Panel Discussion
17.30 Close of Seminar
FEES
£450 per delegate plus VAT (£90.00) = £540
(to include course notes and refreshments)
REGISTRATION DETAILS
For application and conditions please contact:
Key Haven Publications PO Box 669, Oxford OX3 3AU Tel: 01865 352121;
E-mail: [email protected]
0r visit www.khpplc.co.uk
CANCELLATIONS:
Those confirmed in writing 30 days prior to the Seminar qualify for a full refund,
subject to a £50 administration fee. Cancellations within 30 days prior to the Seminar do not
qualify for a refund, although substitutions will normally be allowed at Key Haven’s discretion,
subject to a £50 administration fee.
