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Discover actionable insights from Soldo’s expert panel on the
Autumn Budget 2024.
Our panel of economists, policymakers, and industry leaders breaks down
the budget’s impact on UK businesses—from new tax obligations to digital
transformation and partnership opportunities.
Download our short guide to uncover strategies for building resilience, enhancing
productivity, and seizing growth opportunities in today’s evolving economic landscape.
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The UK Autumn Budget or Autumn Statement is an annual financial statement delivered by the Chancellor of the Exchequer, detailing the government’s plans for economic policies, public spending, and taxation adjustments for the coming year. This Budget serves as an update on fiscal priorities and an opportunity to address emerging economic challenges.
The 2024 Autumn Budget was presented on October 30, 2024, by the new Labour Chancellor Rachel Reeves. The budget, or statement as it is sometimes referred to, outlined key fiscal changes and investment strategies intended to support households, businesses, and economic growth over the next year.
Key tax measures announced that businesses need to consider:
The Autumn Budget introduces several tax and regulatory changes impacting business planning:
Employer National Insurance Increase: This will raise the cost of employing workers, particularly affecting larger businesses.
Business Rates Relief: Temporary relief for retail, hospitality, and leisure sectors, aimed at helping businesses facing rising costs.
Investment Incentives: Funding for regional and digital infrastructure projects that could benefit businesses through enhanced logistics and digital accessibility.
Most budgetary changes take effect at the start of the next fiscal year on April 1, 2025, though some provisions, such as energy support and specific tax changes, may start immediately. Other policies may be phased in over time or require further legislative approval.
