The Autumn Budget proved more measured than many expected. However, the longer-term impact of higher taxation and fiscal drag means planning remains firmly on the agenda for both businesses and their owners.

While there was no headline reform of capital gains tax, pensions or inheritance tax, the direction of travel is clear. Frozen thresholds, incremental changes to income from investments and assets, and tightening limits over time all point to a steadily more demanding tax environment.

Against that backdrop, the value of joined-up thinking across business, personal and family finances continues to grow.

In the January edition of UK Private Company Director, Nji Lorimer, Head of Wealth Planning at UBP UK, reflects on what the Budget means in practice and where owner-managers should now focus their attention.

Areas private company owners may wish to review include:

• Income tax and fiscal drag

• Dividends, investment and property income

• Pensions and future National Insurance limits

• Inheritance tax and succession planning

• Tax on other investments

• Capital allowances

The key observation is that the impact of these changes is more cumulative than immediate. For private company owners, the main takeaway is clear: the earlier business, personal and family decisions are reviewed together, the more options remain available over time.

Read the full article in the January edition of UK Private Company Director.