Potential VAT Changes and Tax Predictions for Upcoming Budget by Chancellor Rachel Reeves

• Labour Party will not increase VAT rate if in government
• Proposed VAT on private healthcare could raise £8bn for NHS
• Soft drinks industry levy raised £338m in 23/24
• Tax on ultra-processed foods could promote healthier lifestyle
• Removing VAT exemption on cakes could raise £640m
• Chancellor may consider increasing VAT on hot takeaway food
• Insurance premium tax raised over £8bn in 23/24

Source: mha.co.uk

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.