What does the 2015 Budget mean for business? - Hilton Smythe

The Hub

Buying a Business - Tips, Advice and Business News

What does the 2015 Budget mean for business?

George Osborne has unveiled his latest budget, but what does this mean for businesses?

Here are a round up of the key points affecting businesses:

  • National Insurance employment allowance for small firms is set to increase by 50% from 2016 (so it will now be £3,000)
  • Dividend tax credit will be replaced by a tax-free allowance of £5,000 on dividend income.
  • There is a proposal to allow shop to open for longer on Sundays, read about the proposal here. This may affect small shops who rely on the larger shops having to close.
  • Non-dom status will be abolished – this means from April 2017, anyone who has lived in the UK for 15 of the past 20 years will pay the same level of tax as other UK citizens.
  • New national living wage for over 25 year olds will be introduced, which starts at £7.20 an hour and is set to reach £9 by 2020.
  • Personal allowance is set to rise to £11,000 next year, this is set to rise to £12,500 by 2020 meaning people working 30 hours a week on minimum wage will not pay income tax.
  • Corporation tax will be cut to 19% in 2017 and 18% in 2020.

Does the 2015 budget affect your business? Comment below and share what affects you most.

Speak to the team

    Feefo Gold Trusted Service Award

    Business Valuation Calculator

    Find out instantly what your business could be worth.

    Start Valuation

    Less than 1 minute to complete

    Answer a few simple questions

    Get your FREE instant valuation

    Start Valuation

    Our numbers speak for themselves. We don’t do second best and neither should you.


    More Completions


    More Offers


    More Viewings

    *Completions figure is comparable to K3 Capital PLC from 2017. Data based on our nearest competitor k3 Capital PLC, results in 2018 against comparable period.

    Speak to the team

      Feefo Gold Trusted Service Award