The UK: The Keir Starmer years (15 Viewers)

Rachey said:
Can someone tell me in simple terms how this will affect a) my shop, b) my personal money?

Cos at the moment, all I know is, it's going to cost my shop more money in wages and national insurance.
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They’re introducing a hefty levy on CUNNILINGUS.
 
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Rachey said:
Can someone tell me in simple terms how this will affect a) my shop, b) my personal money?

Cos at the moment, all I know is, it's going to cost my shop more money in wages and national insurance.
Click to expand...
On national insurance, there's employment allowance which means that might not be true?
 
Rachey said:
Can someone tell me in simple terms how this will affect a) my shop, b) my personal money?

Cos at the moment, all I know is, it's going to cost my shop more money in wages and national insurance.
Click to expand...
I think these are the bits you need to know

  • Employers NI to rise from 13.8% to 15% from April 2025.
  • From April 2025, the secondary threshold at which employers start paying NI will be cut from £9,100 to £5,000.
  • Employment allowance will rise from £5,000 to £10,500 to help small businesses with the employers NI rise.
  • National Mimimum Wage will increase to £12.21 per hour.
  • Business Rates – for 2025-26, the small business multiplier in England will be frozen at 49.9p.
  • Business Rates – standard multiplier will be uprated to 55.5p.
 
Rachey said:
Can someone tell me in simple terms how this will affect a) my shop, b) my personal money?

Cos at the moment, all I know is, it's going to cost my shop more money in wages and national insurance.
Click to expand...

I haven't looked at this in detail but if you have less than 8 staff you'll actually be better off apparently (source: some bloke on LinkedIn)
 
AGinAg (39) said:
I think these are the bits you need to know

  • Employers NI to rise from 13.8% to 15% from April 2025.
  • From April 2025, the secondary threshold at which employers start paying NI will be cut from £9,100 to £5,000.
  • Employment allowance will rise from £5,000 to £10,500 to help small businesses with the employers NI rise.
  • National Mimimum Wage will increase to £12.21 per hour.
  • Business Rates – for 2025-26, the small business multiplier in England will be frozen at 49.9p.
  • Business Rates – standard multiplier will be uprated to 55.5p.
Click to expand...
Thank you. I'll pass this on to Mandy cos apart from minimum wage going up I don't fully understand it.

I feel like the NI increase for employers won't be too huge for us 🤔

And at the moment we get business rates relief and our rateable value is 12k, so I'm not sure if that will change?
 
The Employment Allowance is a grant that helps eligible businesses reduce their National Insurance (NI) bill by up to £5,000 per year. It's designed to support smaller employers with their employment costs.

To be eligible, a business must:

Be registered as an employer
Have employees
Have had an NI liability of less than £100,000 in the previous tax year

The allowance applies to the business, not to individual employees. Sole director companies without additional employees cannot claim the allowance.

Businesses can claim the allowance via their payroll software. If a business submits an EPS late in the tax year, any payments made towards Employer NI during that tax year will be credited back to their account.
 
Ooh I hope we qualify!!

Do we just speak to our accountant I guess 🤔
 
happy to note that OUR RACH has committed (via private investment, I presume) to funding HS2 between Old Oak Common and Euston. it was really the bare minimum.
 
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The Telegraph and the Mail having a meltdown this morning. Hahaha.
 
I actually think I may be a bit worse off, I probably under estimated how much gin and wine I drink :bad:
 
I’m better off because I drink PINTS.

IMG_5991.jpeg
 
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