What business cost increases are being introduced in April?
#National Living Wage #business rates #corporation tax #National Insurance #VAT threshold #April 2024 #small businesses
📌 Key Takeaways
- National Living Wage rises to £11.44 per hour for workers aged 21 and over.
- Business rates multiplier increases to 54.6p in the pound for standard properties.
- Corporation tax remains at 25% for profits over £250,000, with a small profits rate of 19%.
- Employer National Insurance contributions remain at 13.8% for earnings above £9,100 annually.
- VAT registration threshold drops to £85,000, potentially affecting more small businesses.
📖 Full Retelling
For months businesses have been anticipating the impact of a range of tax and regulatory measures announced by the government in the budget and in the weeks since.
🏷️ Themes
Business Costs, Taxation, Regulatory Changes
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Original Source
For months businesses have been anticipating the impact of a range of tax and regulatory measures announced by the government in the budget and in the weeks since.
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