1/3rd rates discount for high street retail properites from April 2019
In a bid to help independent retailers (shops, cafes etc) on our high streets, a one third business rates discount will be given on retail properties with a rateable value below £51,000 for a 2 year period, commencing April 2019. This is expected to benefit up to 90% of retail properties.
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National living wage increased to £8.21 per hour from april 2019
While not referred to in the speech itself, the Budget document confirmed that the National Living Wage for workers aged 25 and over is set to increase from the current level of £7.83 per hour to £8.21 per hour from April 2019, an increase of almost 5%.
January 31, 2018
Auto Enrolment contribution increases from April 2018
By now all existing employers should be aware of Auto Enrolment and should have a qualifying scheme in place.
October 17, 2018
Annual investment allowance increased to £1m from January 2019
The Annual Investment Allowance allows businesses tax relief on 100% of qualifying expenditure on plant and equipment, and is currently set at £200,000 per annum.
October 16, 2018
Personal allowance & higher rate threshold to rise from April 2019
The Chancellor confirmed that the government’s target of reaching a tax-free Personal Allowance of £12,500 and a higher rate tax threshold of £50,000 by 2020 will be met one year early, with those amounts being introduced from April 2019.
October 30, 2018
2% digital services tax on digital platforms arrives in April 2020
In a measure designed to reduce tax leakage where multinational companies operate online platforms and pay little or no tax in the UK, a new 2% digital services tax will be levied on revenues from the UK market in relation to search engines, social media platforms, and online marketplaces.
December 3, 2018
Employment allowance not available to larger businesses from April 2020
The Employment Allowance covers the first £3,000 pa of Employers National Insurance, and is currently available to all but the very smallest employers.
