GOOD NEWS FOR THE SELF-EMPLOYED, BUT ANYTHING ELSE?

Is there any more good news for business owners from the Budget 2024?
In this video Dan runs through the news from the recent budget looking at:
Self employed National Insurance Rates
Employed National Insurance Rates
National Insurance reductions in 2024
VAT registration threshold changes 2024
Child benefit high income benefit charge ‘tax’ changes
Captial Gains tax changes
Furnished holiday let tax changes
Changes to tax bands and personal allowances (?!)
… and more!
Written summary: www.heelanasso...
If you have any questions or thoughts on this, please comment below.
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Note: As always, these videos are educational and should not be considered financial advice. Seek professional advice.

[@martynranson1984]

Interesting about not being able to claim for training costs for new skills. I assumed you could just claim that. I'm a driving instructor and want to do my lorry and bus licence so I can instruct them in the future.

[@HeelanAssociates]

Previous to this change that would of been disallowable, now seems likely fine! Examples here www.gov.uk/hmrc-internal-manuals/business-income-manual/bim35660

[@will-bp9gz]

I thought the same, seams bizarre that you weren't allowed to claim for training cost/new skills.
Does the new training/ new skills, have to be in the same industry? I'm a taxi driver, but I was thinking of taking a training course in plastering. Can I claim for the cost of doing the the plastering course?

[@joebrackenborough1051]

Thank you, really helpful and explained so clearly. 👍

[@HeelanAssociates]

Glad it was helpful!

[@skyofhoney7]

Great videos, thanks. I’m an artist and sometimes attend an online or in person course, sort of professional development. Would these costs be allowed in expenses now?

[@Artzzosound]

Thank you, helpful as always! By chance could you point me in the correct direction for the film studios niche changes?

[@HeelanAssociates]

Sure, 6.10 here www.gov.uk/government/publications/spring-budget-2024/spring-budget-2024-html#policy-decisions

[@alijawad2042]

Thanks for that 👍

[@HeelanAssociates]

Any time!