The Autumn Statement arrived on Wednesday 28 October against a backdrop of economic uncertainty, wage inflation, pressure on margins and continued questions around business-owner taxation and wealth creation.
The Government has repeatedly talked about wealth creation and long-term business investment. This budget’s announcements therefore need to be judged against that ambition.
There is some encouragement for investment and entrepreneurship, but this sits alongside rising employment costs and changes affecting business disposals, investment income and personal wealth.
For business owners, the important question is not simply what changed today, but what those changes mean for the decisions you make next.
The small business rates relief threshold for retail, hospitality and leisure businesses to increase from £12,000 to £18,000 while pubs, clubs and live music venues receive a 20% reduction in business rates from April 2027*
*for Scotland, this awaits the Scottish government budget
The National Living Wage and National Minimum Wage will rise by 3.9%
The company share option plan limit will increase from £60,000 to £120,000 and will be known as EMI2
The Cash ISA limit to stay at £20,000 for under-65s
Online marketplaces will be required to collect VAT on sales by UK businesses making more than £90,000 through their platforms
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