The Autumn Budget was delivered on 28 October, and the headlines have moved on. For business owners, the detail is where it matters.
A few things reported from it:
- The small business rates relief threshold for retail, hospitality and leisure businesses will rise from £12,000 to £18,000
- The tax-free trading allowance was reported as tripling to £3,000
- A higher tax-free mileage allowance of 55p was made permanent
- From the 2027/28 tax year, property income tax rates rise, with the basic rate going to 24%, the higher rate to 44% and the additional rate to 49%
This one is relevant if you are a landlord.
Not much was announced on the taxation of corporate profits
For most limited companies, that means no big new change to plan around
None of this applies to everyone, and the details and start dates matter
A headline figure rarely tells you what it means for your own business
That is the useful conversation: not “what did the Chancellor say”, but “what does it mean for me, and is there anything I should do before the year end?”
Which part of the Budget matters most to your business, or did you not notice it at all?
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