The Autumn Statement 2024

[Contractor UK]

Join the conversation on this year’s Autumn Budget by sharing your insights and questions!

[northernladuk]

How much is my house price going to go up in the next year?

[northernladuk]

Spotted this one at the bottom of the DM article.

Farmers: Inheritance tax for those passing on estates


Farmers passing on estates worth more than £1m will now be subject to a 20 per cent inheritance rate, despite previously being exempt.

Quick google says the average farm is over £3 mil so that's got to be absolutely horrendous hasn't it? Can't find any example numbers to see what that actually translates to but got to be bad?

[malvolio]

How much is my house price going to go up in the next year?

Given the increase in stamp duty and so further restrictions on the bottom of the housing market, probably not a lot a lot. Plus you won't be able to sell it anyway

[vetran]

How much is my house price going to go up in the next year?

Have you asked your Accountant?

Posted via the NF - NLUK microservice!

[tazdevil]

Spotted this one at the bottom of the DM article.



Quick google says the average farm is over £3 mil so that's got to be absolutely horrendous hasn't it? Can't find any example numbers to see what that actually translates to but got to be bad?

Farms rely on inherited knowledge to get the best out of them. Forcing death duty sales is no way to guarantee future food production or good rural husbandry. Clarkson has shown how difficult it is to be an effective farmer in todays world and Labour has just made farming even more difficult!

[CheeseSlice]

I'm puzzled by this one posted on BBC News:

While employers' National Insurance will rise to 15% from 13.8% and the threshold at which it is paid almost halves from £9,100 to £5,000 - the employers allowance rose from £5,000 to £10,500 - that means that they get a £10,500 discount from their overall employers NI bill.

Small business groups described this mitigation as "huge" in protecting many small businesses.

Any ideas what this means for contractors working through their own LTD companies?

[eek]

I'm puzzled by this one posted on BBC News:



Any ideas what this means for contractors working through their own LTD companies?

£600 more in employer NI unless you employ a second worker...

[Snooky]

£600 more in employer NI unless you employ a second worker...

But Employment Allowance will increase from £5,000 to £10,500, so a smaller company with one or two workers may not be badly impacted.

[eek]

But Employment Allowance will increase from £5,000 to £10,500, so a smaller company with one or two workers may not be badly impacted.

it means you could pay your wife a decent salary but if the company only employs you and no-one else you can't claim the allowance - that is where my £600 came from...