3 ways the mini- budget helps travel businesses

Good news for start-ups and businesses looking for investment From 6 April 2023, the amount you can raise under the Seed Enterprise Investment Scheme (SEIS) increases to £250,000. The gross asset limit increases to £350,000. Companies that are three years old will now be eligible. The annual investor limit doubles to £200,000. The Company Share Option Plan (CSOP) limit doubles to £60,000.

Tax savings for travel business owners The Chancellor scrapped the planned rise in corporation tax. The rate will stay at 19%. Owners will pay less tax on dividends. The upper rate will be reduced to 32.5% from 6 April 2023. From November, employer and employee national insurance contributions will be reduced by 1.25%.

In January 2019, the Annual Investment Allowance (AIA) was temporarily increased. After several extensions, it is now permanently set at £1 million. This removes the uncertainty of whether the AIA will be available, meaning businesses can now plan investment spending. More certainty for businesses investing in technology

If you’d like to discuss how these changes may impact your business, please contact [email protected]