Show Notes
The UK Chancellor of the Exchequer, Rachel Reeves, has delivered the Autumn Budget 2025. In her much-anticipated second Budget, the Chancellor announced a broad spectrum of tax measures which she said were designed both to secure public finances and make the UK tax system fairer. After much press speculation, rumours and reported U-turns, there is now some welcome clarity on how the government intends to balance the books, with the largest revenue raising measure being a stealth tax increase through the freezing of income tax thresholds. Outside of the headline grabbing measures, the government has published details on new and ongoing business tax reform measures, a number of which will be included in the upcoming Finance Bill. In our latest podcast, Josh Critchlow speaks to May Smith, Emily Szasz and Sam Withnall from our London tax team about the smorgasbord of business tax measures they found most noteworthy in the Autumn Budget 2025, including:
headline tax revenue raising measures including extending the freeze on income tax/NICs thresholds and raising income tax rates on dividend, savings and property income; the introduction of a new ‘UK listing relief’ from SDRT, providing a 3 year exemption from the 0.5% SDRT charge on agreements to transfer securities of newly listed companies on a UK regulated market; confirmation that an ‘Advance Tax Certainty Service’ for major investment projects in the UK will be launched in July 2026; changes to the capital allowances regime, including a new 40% first-year allowance and reduction of writing down allowances for main rate expenditure; broadening an anti-avoidance rule applicable to capital gains rollover relief on share exchanges and reorganisations; an update on proposals to reform behavioural tax penalties; revisions to the UK VAT grouping rules applicable to overseas establishments; confirmation that a permanent revenue-based oil and gas price mechanism will take effect on expiry of the existing Energy Profits Levy; additional measures to tackle tax avoidance; and measures not included in the Budget announcements, including the rumoured ‘partnership NICs’ and exit tax.
More from The Freshfields Podcast
In this episode of the Essential Antitrust podcast, host Jenn Mellott is joined by fellow partners Tobias Klose and Dominic Divivier to take stock of where EU cartel enforcement stands today and what to expect under the new leadership.
Dans cet épisode, Pascal Cuche et Sami Jebbour, associés en charge de la pratique Infrastructure du bureau de Paris, reviennent sur la manière dont l’IA est devenue un puissant moteur d’investissement dans les infrastructures digitales, à commencer par les campus d’IA et les centres de données. Des attentes des investisseurs au rôle de l’État, en passant par l’approvisionnement en énergie et la souveraineté numérique, ils abordent les grands enjeux qui seront débattus lors des deux tables rondes organisées par Freshfields à Paris le 5 novembre.
In this episode, Craig Montgomery is joined by our New York restructuring and litigation specialists, Madlyn Primoff, Rob McCallum, and Henry Hutten, to explore why plaintiffs are turning to US courts, the impact of US discovery and depositions, and the lessons market participants can draw from recent high-profile disputes.
Cosa accade quando una concentrazione è troppo piccola per essere notificata secondo i criteri tradizionali, ma non troppo piccola per produrre effetti significativi? In questa puntata di Essential Antitrust – The Italian Voice, cercheremo di rispondere anche a questa domanda, analizzando le concentrazioni sottosoglia, ossia quelle piccole operazioni di M&A che sfuggono alle tradizionali soglie di notifica previste dalla disciplina sul controllo delle concentrazioni, ma potenzialmente in grado di avere un impatto rilevante sulla concorrenza. Dal caso Illumina/Grail fino ai nuovi poteri di call-in nazionali, ripercorriamo l’evoluzione applicativa della normativa che sta ridisegnando i confini del controllo delle concentrazioni.
In this special episode, we step away from the technical content to talk about something every professional grapples with: finding your voice. Lindsay is joined by senior associate Sally and first-year apprentice Evie to share candid reflections on building confidence, communicating with impact, and developing a professional presence early in your career - from imposter syndrome and mentorship to finding safe spaces to speak up, handling the "fear of the question," and letting your professional USP shine through. Whether you're a junior lawyer, an apprentice, or simply looking to make more of an impact, this episode is a reassuring reminder that you don't need to have it all figured out - or be the loudest in the room - to be heard. Stay tuned for more insights into the world of restructuring and thank you for listening to "No Worse Off."