Further to the Autumn Budget this week, and as with previous Budgets, the devil is in the detail. From a business and employee benefits point of view, the Autumn Budget brings together some significant changes and looking beyond the headlines, some opportunities to balance the costs of running and growing your business.
Key points
- Large increase for employers in NI costs from April 2025. The main rate of class 1 employer national insurance contribution (NIC) will be increased from 13.8% to 15% from 6 April 2025
- The secondary threshold at which employer NICs are payable will be reduced from £9,100 to £5,000
For now, the opportunities for tax and NI savings for both employer and employee through Salary Exchange remain, making it a serious consideration for business owners, to help balance the increases in NI costs next year.
Read our full Autumn Budget Summary Guide here.