Download your Autumn Budget Summary Report here
Yesterday, Chancellor Rachel Reeves announced £40bn of tax rises. Some of these increases will significantly affect employment costs for SMEs from April 2025.
Download our Autumn Budget Summary Report for a full round-up of the announcements and how they might impact you and your business (as announced on Wednesday 30 October).
Our summary covers some of the key measures, including: increases to Employer’s National Insurance contributions, changes to the National Minimum Wage, increased business rates relief, and new support measures for growth and investment.
Commenting on the Budget announcement, Charlotte Hinchcliffe, Director said: “While this Budget was less severe for SMEs than initially anticipated, the increase in taxes, particularly on Employer NICs, is a concern for the business community. Many of these changes will not take effect until April 2025, giving business owners a critical window to assess their financial strategies. It is essential for businesses to forecast the potential impacts and identify areas where adjustments could help control costs and sustain growth.”
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