- Corporation tax will continue to fall with a drop to 19% in 2017 and 18% in 2020.
- NIC employment allowance will be increased to £3,000 from April 2016.
- Insurance premium tax increased to 9.5% from November 2015
- There are also a number of cuts to welfare as well as a 1% pay increase freeze for the public sector which may impact on many members.
- The minimum wage has been increased and has also been rebranded the “national living wage”.
A full summary of the budget can be found on our main website www.alexandersloan.co.uk by clicking here.