Autumn Budget: Key Insights for Local Businesses
Staying informed on the latest fiscal changes is crucial for businesses of all sizes. Wright Vigar, a chartered accountant’s firm, has released their Autumn Budget Booklet 2024, offering valuable insights into the key updates impacting businesses and individuals.
Key Highlights
- Private sector employers face increased National Insurance contributions
- Capital Gains Tax rates on shares to align with property rates
- Inheritance tax reforms affecting business property and agricultural land
- Pension pots to be included in inheritance tax calculations from 2027
- Minimum wage to increase by 6.7% to £12.12 per hour
What This Means for You
The impact of these changes will vary depending on your circumstances:
- Business owners may want to review succession planning
- Investors should reassess their CGT exposure
- Property investors face increased transaction costs
- Pension holders should review inheritance planning
- Employers need to prepare for increased NI contributions
Get the Full Picture:
Wright Vigar has compiled these insights and more into an easy-to-read booklet.
Download the Autumn Budget Booklet Here
Wright Vigar’s tax experts, Antony Voakes, Julia Clarke and Giles Lang, have cut through the complexity to explain the key changes that will impact you. Click here to watch the video.