Earlier this week, Jeremy Hunt made his Autumn Statement, which outlined upcoming changes that will impact the UK economy across the board. But what are these changes, and how will they impact businesses?
First of all, corporation tax will remain at 25% for most, extending to 28% for banks with profits over £100m. The announcement also outlined a change for R&D tax credits, dropping from 130% relief to 86%, and with the repayable credit rate decreasing from 14.5% to 10%.
Changes to the tax-free allowance on dividend income were also revealed, dropping from £2,000 to £1,000 (with a further decrease to £500 over the next two financial years).
What Does This Mean for Business Sales?
Intelligent has recently conducted a piece of independent research into the UK business market in 2022.
Whilst the economic climate is turbulent, we are pleased to report that now is still an excellent time to consider the sale of your business.
Buyers remain active and some sectors are seeing increased valuations. In 2022 Intelligent sellers have seen:
- Buyer enquiries up 19%
- Selling prices up 20%
- Businesses selling 57% faster
As we expect this trend to continue into early 2023, it’s critical that the foundations for a successful business sale are laid now.
If you'd like to discuss your current or future plans with regards to your business, we'd love to speak with you.
With over 1,000 businesses sold, our exclusive database of over 125,000 buyers, means we may already know someone looking for a business just like yours. Our dedicated expert team will take care of everything with full confidentiality.
Get quick and easy insight into the real value of your business, without any obligations.
At Intelligent, all of our experts use a specific formula that will give you a free and highly accurate baseline valuation so that you've got a figure to work with that most realistically resembles the value of your business.