'Anxious' Harrogate businesses invited to Post Budget Breakfast event by MP and Harrogate Chamber
Harrogate businesses will get the chance to give their views on the Chancellor’s tax and spending plans announced in the Budget which included a freezing of income tax thresholds and the introduction of a new ‘mansion tax’.
Taking place tomorrow, Friday November 28 from 8.30am to 10.30am, the town’s MP Tom Gordon is inviting businesses to join him in a Post-Budget Breakfast at the Cedar Court Hotel in Harrogate.
Open to all local businesses, the event will offer a key opportunity to share their views on a range of changes to tax, benefits and the minimum wage announced by Chancellor Rachel Reeves.
Budget measure highlights
Tax
Income tax: Freezing tax thresholds on personal tax and employer National Insurance contributions thresholds for three years from 2028-29 - raising £8 billion.
Pensions: Taxing salary-sacrificed pensions contributions - £4.7bn.
Property, savings and dividends: Increasing the tax rates on dividends, property and savings income by 2 percentage points - £2.1bn.
'Mansion tax': A council tax surcharge on properties worth over £2m - raising £0.4bn.
Corporation tax change: Reducing the writing down allowance main rate in corporation tax - £1.5bn.
Savings
ISAs: The cash ISA limit is being reduced to £12,000 for under-65s.
Benefits
The end of the two-child benefit cap from next April.
Spending
£300 million of investment in technology to improve patient services, and 250 new neighbourhood health centres which will expand more services into communities.
Seven mayors will receive £13bn in funding to invest in their local areas and there will be additional cash for the devolved governments.
£5m for libraries in secondary schools, on top of £10 million that had already been announced for primary school libraries.
Motoring
There will be a new vehicle excise duty on electric vehicle usage.
Post-Budget Breakfast, Harrogate information
Organised in partnership with Harrogate District Chamber of Commerce, the Post-Budget Breakfast at the Cedar Court Hotel is sponsored by local firm Libertas Professional.
Ian Howard of Libertas professional LLP said: ‘We are aware that many local businesses view the Budget with trepidation.
"This is an opportunity for businesses to share their thoughts on how the Chancellor’s measures affect them, how they are planning to react and to hear from some of the support that is available to help them navigate the impact of the Budget.”
Book online via the Chamber of Commerce’s website at: https://www.harrogatechamber.co.uk/