The State Opening of Parliament took place on 17 July, and the King’s Speech outlined the measures the government intends to introduce in the next parliamentary session. Apart from mentioning the proposal to remove the VAT exemption for private school fees (which we covered in a previous edition of this newsletter), there was little said about measures affecting tax for businesses and individuals. Instead, we must wait for the Labour government’s first budget to learn about their tax plans. The budget is scheduled for 30 October 2024.