2020 Budget For small Businesses

What does today mean for small businesses, some of the highlights:

• National insurance threshold increased to £9,516
• Corporation tax stays at 19%
• Increase in the recently introduced Structural Buildings allowance to 3% per year
• Increase in the employer’s national insurance allowance from £3k to £4k per year (although the criteria to claim this, changes from 1 April)
• Entrepreneurs life time allowance to drop to £1m

And for some other highlights an increase in money to fill potholes and a freeze in alcohol and fuel duty!

Our usual full budget update will be released soon.

Disclaimer - All information in this post was correct at time of writing.