Wednesday preview: All eyes on the Autumn Budget

What happened

The Chancellor is not expected to announce many surprise giveaways on Wednesday, as government borrowing rose more than expected last month to £24.5 billion. Many business owners are bracing for more tricks than treats from the Budget.

Confirmed

Global impact / market context

Possible cuts to Business Asset Disposal Relief, a tax break for retiring business owners, would reduce the reward from selling a company. A new incentive for reinvesting sale proceeds in UK businesses could redirect capital but adds uncertainty for owners and investors.

Analyst inference

A Wealth Club survey found 16% of wealthy investors are considering moving abroad because of tax changes in recent years. Constant shifts to the tax landscape risk driving away the investment and wealth the economy need.

Analyst inference

What to watch

1. Business Asset Disposal Relief, formerly Entrepreneurs' Relief, may be significantly scaled back again, according to reports, affecting retiring business owners who rely on this tax break when selling their companies. Confirmed
2. A new tax incentive could potentially offer a break to those who reinvest the proceeds of a business sale into other UK businesses, aimed at funnelling proceeds toward start-ups and scale-ups. Proposed
3. Watch whether Budget tax changes push more wealthy investors to move abroad, since 16% already considered leaving; such moves could reduce the investment and wealth available to UK companies. Analyst inference

Evidence

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