Here is our summary of today’s Budget.
So, what were the key points for business owners in Spring Statement 2022?
As a business owner, the good bits included:
- NI threshold for everyone up to £12,570
- Employment Allowance up to £5,000 per year
- A promise of more generous R&D credits
- Cost of fuel down 5p per litre
- Basic rate income tax cut to 19%….in 2024
But NI and dividend tax is still going up 1.25%.
Overall, was it enough to offset rising inflation, interest rates, and fuel costs?
There’s a lot to take in, so you can download our handy summary below.
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We are a firm of Chartered Accountants based in Liverpool.
We work with business owners across Liverpool, Merseyside, and the whole of the UK.
As well as accounts and tax for businesses and individuals, we specialise in business growth advice to entrepreneurs.