BUDGET 2024

So, the Chancellor has announced her budget.  Many of the proposed changes were already known, or rumoured in advance.  

The professional partners at Fusion Consulting Group and at Hazlewoods, among many others have published their summaries and analysis of the budget and the links below will take you there.

Fusion Consulting Budget Guide 2024

Hazlewoods Budget Guide 2024

Of note to anyone considering a sale of their business will be the increases to Capital Gains Tax announced with immediate effect.  

Also, and possibly of more note are the changes to BADR (Business Asset Disposal Relief) which provides for a 10% tax rate on asset disposals or share sales up to a lifetime limit of £1m.  This will increase to a rate of 14% from April 6th 2025 and again to 18% from April 6th 2026.  In short, if you sell your SME business before next April you will pay less tax.

Please get in touch if you want to discuss the sale of your business, and receive quality, practical advice and a professional service.