THE ‘HORROR’ BUDGET 2024 – SMALL BUSINESS SUMMARY

Wondering if the latest announcements will affect your business? Well watch on!

In this video Dan runs through all the key measures announced in the October 2024 Budget by Chancellor Rachel Reeves.

Topics include:

Employers National Insurance increase
Employers Allowance increase
Second property stamp duty increase
Business sale tax increase
Capital Gains tax increase
Company car tax changes / Double Cab pick up news
Inheritance tax
Umbrella companies and IR35
Limited company taxes

… and more!

If you have any questions or thoughts on this, please comment below.

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Note: As always, these videos are educational and should not be considered financial advice. Seek professional advice on your specific situation.

Various links here may contain businesses in which we are a partner and therefore we receive a small commission if you buy via those links.

Chapters

00:00 - Introduction
01:30 - Good or Bad?
02:41 - Key themes
04:46 - Bad news for employers
10:27 - Capital gains tax
11:44 - Extra tax on selling your business
13:20 - Second property stamp duty
13:45 - Business Rates increases
15:32 - Company car tax changes
16:15 - Trucks become cars..
17:30 - Limited company taxes
18:57 - Inheritance tax tweaks
19:53 - Increased interest rates and HMRC
21:44 - Umbrella companies and IR35
22:49 Non-Dom status
23:20 Summary of thoughts