Hot off the presses, here are some key points from the 2014 budget. How might your business be affected?

 

• Economy expected to grow by 2.3% in 2015 and 2.6% in 2016 and 2017
• No rise on fuel duty in September
• High street stores will get £1,000 off their rates
• All business will get the Employment Allowance – £2,000 cashback on jobs
• Annual Investment Allowance for businesses doubled to £500,000 and extended to the end of 2015
• Export finance lending interest will be cut by a third and lending doubled to £3bn
• Corporation tax will drop next year to 20%
• Under–21s will be taken out of employers’ National Insurance Contributions
• 100,000 more apprenticeships will be supported by extending grants to SMEs
• Income tax personal allowance changed – the first £10,500 will be tax free
• 40p tax rate threshold will increase to £41,865

 

If you want a summary, here are links to Osborne's speech and (gulp) the entire budget:

2014 Budget speech

2014 Budget

Comments

Neon
(19 March 2014)
One of the better budgets me thinks, but I'll remain sceptical until this financial recession has passed !!
emily
(20 March 2014)
the income tax is good
tez
(20 March 2014)
no rise on fuel wooohooooo
Inksmith
(20 March 2014)
I thought someone would appreciate that, Tez.
gary
(21 March 2014)
i think there is always going to be good and bad points to the budget
Kikatek
(26 March 2014)
Looks good.
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