As the leaves fall this Autumn, the Chancellor Jeremy Hunt decided to make some positive changes for employees and small to medium sized businesses.
Employees on between £12,570 and £50,268 will see a National Insurance rate cut from 12% to 10% from 6 January 2024.
The VAT rate is unchanged but business rate discounts will continue which is good news for many businesses. The “Full expensing” tax break, allowing companies to deduct spending on new machinery and equipment from profits has been made permanent.
There is so much information to digest from yesterday’s announcements so follow the link below for a straightforward round-up of the key changes. Hopefully this will be helpful giving you quick access to the areas relevant to you.
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