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The increase in employer NI will come as a blow to most small and medium sized businesses, and even the OBR believe that it will change employer behaviour to the extent that the £25bn tax revenue forecast is likely to shrink considerably once employers cut back on wages and recruitment, which will ultimately have an impact on the economy and other taxes such as VAT through reduced spending.
There are also cost increase for some as the National Living Wage will go up. The minimum wage will increase by 6.7% to £12.21 an hour from April. For 18 – 20 year-olds it will increase by 16% from £8.60 to £10 an hour. Apprentices and under 18s will also see an increase of 18%, from £6.40 to £7.55 an hour.
Shareholders will also be considering the implications of the CGT rises, which kicked in immediately. An increase to  24% is unlikely to materially put off the majority of business owners from selling some or all shares in their business, but the increase in the rate of Business Asset Disposal Relief in April next year might force a few decisions this side of the new financial year.
Many will already have thought about a sale due to the rumours of a much higher CGT rate rise or the loss of Business Asset Disposal Relief. Whilst there may be less urgency to sell now, some of the work will have been done and a number will no doubt want to carry the process through to conclusion. Doubly so if they will lose agricultural or business property relief.
If you are considering selling your business, in part or in whole, we would welcome a discussion with you at the earliest opportunity to see how we can optimise this from a personal tax perspective.