AJ Bell sees UK banks as potential targets for higher taxes in Budget

By Public Technologies
  • AJ Bell’s October 14 analysis flagged UK banks as potential tax targets in Chancellor John Healey’s October 28 Budget.
  • Higher bank taxes could constrain lending capacity or reduce shareholder dividends, potentially affecting retirement investors’ income.
  • Oil producers could face an increase in the 38% energy profits levy or an extension beyond its March 2030 expiration.
  • Gambling operators appeared more likely tax targets than oil producers, with a potential increase in slot machine duty.
  • The proposed “Your First Home” scheme could support major property developers through 20% government-backed loans for first-time buyers with 2.5% deposits.


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