Grown UP Business

The 2025 Budget Briefing, also recorded for a podcast, led by Jeff and his colleague, detailed the recent UK budget's implications on businesses and entrepreneurs. Jeff, a seasoned tax accountant with over 15 years of experience, provided insights into the extensive budget, highlighting key changes and their effects on business operations. Major points included significant increases in minimum wage and national insurance, affecting employer costs; changes to the employment allowance; and the importance of strategic planning around employee benefits and tax-efficient structures such as LLPs and EOTs. Jeff also covered the new capital gains tax rates, adjustments to reliefs, inheritance tax updates, the importance of timely planning, and the changing landscape for non-DOM rules and pension funds. Emphasis was placed on the need for businesses to plan for increased costs and consider productivity improvements and strategic tax planning to mitigate the impacts.