Budget 2018
Published on Oct 31, 2018
10 things that hiring companies and SMEs need to know from the Budget 2018
MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
IR35 rules won’t be extended to the private sector until April 2020 and only for medium and large firms.
#2 The Apprenticeship Levy will be reformed
Large businesses will be able to transfer up to 25% of their apprenticeship levy in their supply chain.
The contribution required for apprenticeship training for small businesses reduced from
10% to 5%.
#3 National Living Wage will increase to £8.21 in April
Photo by Jungwoo Hong
Business rate bills by 90% for retail properties with a rateable value below £51,000 for 2 years from April 2019
#5 Jobs remain front and centre - 'jobs miracle'
Photo by Alistair MacRobert
Office for Budget Responsibility (OBR) predicting that there will be 800,000 more jobs by 2022
The Budget allocates £100 million for the first phase of the National Retraining Scheme to give workers the opportunity to upskill or retrain.
#7 Improving business energy efficiency plans
Photo by Karsten Würth (@inf1783)
The government will issue a call for evidence on introducing a new Business Energy Efficiency Scheme, focused on smaller businesses.
#8 Turnover threshold for VAT frozen until 2022
Photo by Olga Sytina & Alexey Kljatov
#9 A new digital sales tax
Photo by Fabian Blank
Digital tech giants will be taxed 2% on the money they make from UK users
#10 Entrepreneurs relief period extended
Photo by ThoroughlyReviewed
