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UK Autumn Budget
Changes for companies and Employers
Company Changes
Vat, Income Tax and Corporation Tax rates remain unchanged
Hybrid vehicles are to be taxed like petrol vehicles for company cars
From April 2025, double cab pick ups (1.0 tonne+ payload) taxed as cars, affecting tax calculations (existing vehicles unaffected)
100% First Year Allowances for zero-emission cars and EV charge points extended to 31 March 2026 for corporation tax; 5 April 2026 for Income Tax
Corporation tax capped at 25%; Small Profits Rate and Marginal Relief unchanged
Key features like full expensing, Annual Investment Allowance, R&D relief rates and Patent Box remain unchanged
Employer Changes
Employer National Insurance rate increases by 1.2% to 15% from April 2025; threshold drops to £5000
Employment Allowance increases from £5000 to £10,500; £100,000 eligibility threshold removed
Employee National Insurance Rate remains unchanged
Enhanced employee protections: stronger unfair dismissal rules, extended maternity/paternity leave, and default flexible working.
Capital Taxes
Property Taxes
Stamp duty on additional properties rises from 3% to 5% (effective 31st October 2024)
First time buyer relief now capped at properties up to £500,000
CGT on non- residential assets rises to 18% for basic rate and 24% for higher rate (from April 2025)
Residential property CGT rates remain aligned with other CGT rates
Stamp Duty relief for multiple property purchases in one transaction removed
Furnished Holiday Lettings relief ends in April 2025
Inheritance Tax
IHT rate stays at 40%
IHT threshold freeze at £325,000 until 2030
Inherited pension pots taxed from April 2027
First £1million in business/agricultural assets remains IHT- free from April 2026
50% IHT relief on business/agricultural assets over £1 million (effective rate 20%)
Inherited AIM shares have 50% IHT relief in all cases
Minimum Wages Changes
From 1st April 2025
| Age Category | Hourly rate up to 31 March 2025 | Hourly rate from 1 April 2025 |
| Age 21+ (National Living Wage) | £11.44 | £12.21 |
| Age 18 to 20 | £8.60 | £10.00 |
| Under 18 | £6.40 | £7.55 |
| Apprentices Aged 19+ Only in the first year of their apprenticeship | £6.40 | £7.55 |
| Apprentices Aged Under 19 | £6.40 | £7.55 |