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Tax & Legislation

How will the Autumn Budget 2024 impact pay and benefits?

By Zoe Wickens2024-10-31T11:53:00+00:00

Government

Autumn Budget 2024: Chancellor of the Exchequer Rachel Reeves delivered her Autumn Budget speech in the House of Commons on Wednesday 30 October. It included a number of key announcements that could impact employers’ pay and benefits strategies. 

Autumn Budget 2024: Employer national insurance contributions (NICs) to increase to 15%

Autumn Budget 2024: Incentives for electric vehicles and fuel duty freeze to remain

Autumn Budget 2024: Employment allowance to double and £100,000 threshold scrapped

Autumn Budget 2024: Income tax thresholds to remain frozen until 2028

Autumn Budget 2024: Government to close loopholes around car ownership schemes

Autumn Budget 2024: Changes to employer share incentive plan notice relating to statutory neonatal care pay

Real-time reporting of benefits in kind to start in 2026 

Topics

  • Pay strategy
  • Tax and legislation
  • Total reward

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