In the wake of Chancellor John Healey’s first Budget this week Tom Golding, partner in the corporate tax team at PKF Littlejohn, unpicks the potential ramifications for brokers, MGAs and the wider UK insurance sector.
While the 2026 Budget contained no tax measures aimed specifically at the insurance sector, a number of announcements will be relevant to insurance brokers and MGAs.
In particular, changes to capital gains tax reliefs, employee share incentives and VAT on cross border services could have a meaningful impact on businesses.
Reduced BADR limit increases the cost of exit
Perhaps the most obvious change for owner managed insurance businesses is the reduction in the lifetime limit for Business Asset
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