For small and medium-sized companies this latest Budget will be a blow, both for the organisation itself and its owners.

The significant hike in National Insurance and the National Living Wage will more than likely limit job creation, suppress wage increases and add unwanted ongoing costs to businesses still struggling with a cost-of-living crisis.

Changes to Capital Gains Tax and Inheritance Tax will also restrict the ability of business owners to generate wealth from their enterprise and pass it on.

However, if Labour can achieve its promised investment in national growth and calm the markets with its promises of innovation and Corporation Tax certainty then the nation may benefit from greater economic prosperity.

Those people who find themselves facing uncertainties about their future plans as a result of this Budget should seek professional advice urgently.

To read the full Autumn Budget document, please click here.

Posted in News.