On Wednesday 3rd December the Chancellor, George Osborne, gave his last Autumn Statement before the general election. His speech lasted 50 minutes as he updated MPs on the state of the UK’s economy.
Here are the main points from his 50-minute speech:
- The UK currently has the fastest growing economy in the G7
- Forecast is for 3% growth in 2014, up from 2.7% as predicted in March
- There have been 500k jobs created this year, with the vast majority being full time
- Unemployment is low
- Inflation is low
Autumn Statement 2014 – highlights for small businesses
The key points that we feel matter most to our clients are:
– Stamp duty cuts helping 98% of home buyers
– Tax free personal allowance increased to £10,600 from April 2015
– Rates discount for businesses uplifted to £1500
– Removal of Employer’s NI for apprentices aged under 25
For full details visit https://www.gov.uk/government/news/autumn-statement-2014-16-things-you-should-know
Or to discuss how these changes affect you and your small business call Esther or Natasha on 01737 652 852.