Much of the Budget had been leaked beforehand, with no rabbits out of hats.
While the devil is in the detail, on the face of it, the measures announced will present a challenge for businesses; although it’s welcome news that Corporation Tax and National Insurance Contributions haven’t increased, the rise in wages from April will put more pressure on companies, with costs likely to be passed on to customers.
The increase in tax on income from property, savings and dividends may also have an impact on people’s investment strategies.
However, we welcome the news that business rates will be kept lower for high street retailers, leisure and hospitality.
We’ve gone through the measures with a fine tooth comb, and in this episode of Optimum Live we talk about the Budget’s impact on businesses, families and individuals.
Plus, if you’d also like to read our thoughts in black and white, Here is our summary of the 2025 budget.
If you would like to talk through the tax implications for your and your business, please get in touch with our team.
