Impact of the Autumn 2017 Budget for SAIF Members

Important updates from the Autumn 2017 Budget:

• National Living Wage increase from April 2018 for employees aged 25 and over by 4%, from £7.50 to £7.83.
• 1% rise in company car tax diesel supplement: if you have any diesel cars in your company fleet, you may need to budget for a higher Class 1A NI bill from 2018/19 onwards. The existing supplement will be increased from 3% to 4% from 6th April 2018
• From April 2018, business rates will rise by the Consumer Price Index (CPI) rather than the Retail Price Index (RPI).  The CPD is usually lower than the RPI.