Spring Budget Snapshot 

Now the Chancellor of the Exchequer has delivered the 2024 UK spring budget, we wanted to take a look at the key measures to give you an overview of them and what they could mean for you.

There have been a lot of announcements in the budget such as the reduction in national insurance (NI) contributions, this may cause some salary sacrifice plans that generate NI savings only less attractive. But for pensions the combination of tax relief plus NI savings means a sacrifice remains attractive.

There have been a lot of announcements in the budget some welcome, like increased funding for the NHS and the reduction in national insurance rates, and, some less so like continued freeze of the personal allowance. But, what should small businesses make of these changes?

What are the key changes that will impact you and your employees?  What could the changes mean for your benefits? Are there any other measures that might impact?

We asked our benefits specialists, Steve Johnson and Nicola Tigwell, to outline their thoughts on the key measures in the budget below in these short videos.