The Autumn Budget delivered on the expected tax hikes, but the axe didn’t fall in all of the places that had been speculated about.
This was a Budget that focused more on personal taxation, rather than corporate taxation, but many of the measures will affect the employees and leadership of SMEs across the UK.
Labour’s focus is clearly on reducing its deficit, whilst increasing spending in areas that reduce the impact of the cost of living. Whether it will achieve this careful balancing act is yet to be seen, but in the meantime for many of us it will mean paying more across a wide range of taxes.
Those people whose future plans have been affected as a result of this Budget must seek professional advice as soon as they can.
To read the full Autumn Budget document, please click here.