5 steps to shield your money from the taxman before the Budget

Experts have warned Labour is planning a tax raid in its upcoming Budget. We share five steps to shield your money from the taxman

Piggy bank inside a glass ball on pink background
(Image credit: Twomeows via Getty Images)

Chancellor Rachel Reeves is gearing up to deliver her first Budget on 30 October, and experts have warned a tax raid is on the agenda. It is possible you are scrambling for ways to shield your money from the taxman as a result. 

The good news is Labour has promised not to raise income tax, National Insurance or VAT, but the bad news is tax rises are likely in a range of other areas. It comes after Reeves accused the Conservatives of leaving a £22bn black hole in the public finances, meaning money will need to be raised from somewhere to pay for vital public services. 

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Katie Williams
Staff Writer

Katie has a background in investment writing and is interested in everything to do with personal finance, politics, and investing. She enjoys translating complex topics into easy-to-understand stories to help people make the most of their money.

Katie believes investing shouldn’t be complicated, and that demystifying it can help normal people improve their lives.

Before joining the MoneyWeek team, Katie worked as an investment writer at Invesco, a global asset management firm. She joined the company as a graduate in 2019. While there, she wrote about the global economy, bond markets, alternative investments and UK equities.

Katie loves writing and studied English at the University of Cambridge. Outside of work, she enjoys going to the theatre, reading novels, travelling and trying new restaurants with friends.