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Industry news
The Autumn Budget was presented last week by Chancellor Rachel Reeves, unveiling key updates to employer National Insurance, the National Minimum Wage, National Living Wage, and more. But what do these changes mean for you?
The Autumn Budget introduces several impactful changes that business owners should be aware of:
- National Insurance: Employer contributions will rise to 15% in April 2025, with the contribution threshold dropping to ยฃ5,000.ย Employment allowance will be increased from ยฃ5,000 to ยฃ10,500, reducing national insurance for smaller businesses.
- Capital Gains & Inheritance Tax: Capital Gains Tax rates increase to 18% (lower) and 24% (higher). The Inheritance Tax threshold freeze extends to 2030, with pension pots becoming taxable from 2027.ย
- Minimum Wage: The National Living Wage for over-21s will increase by 6.7% to ยฃ12.21 per hour.
For personalised insights on how these changes may affect your business, get in touch with our team.
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