Budget update - key changes for your business, from minimum wage increases to retail, leisure & hospitality tax cuts
The Autumn Budget has landed, and there are some significant changes affecting UK businesses. We've summarised the key points in one place so you can see what's changing and what it means for your business.
Minimum wage to increase
The minimum wage for 18 to 20 year olds will be increasing from £10 to £10.85 per hour.
For employees over 21 years of age, the national living wage increases from £12.21 to £12.71 per hour.
Increase in penalties for late Corporation Tax filing
For returns with a filing date on or after 1 April 2026, the Chancellor has announced an increase in penalties for Corporation Tax late filing.
Tax cuts for 750,000 retail, leisure and hospitality properties
The Chancellor is showing support for small businesses facing business rates by introducing lower tax rates for over 750,000 retail, hospitality and leisure properties.
This creates ideal opportunities for businesses within retail, leisure and hospitality to expand and open new sites.
Protecting high street retail
To stop online retailers undercutting the UK high street, overseas firms will pay customs duty on all parcels.
Permanent 40% First Year Allowance (FYA)
From 2026, to allow businesses to write off part of the upfront costs of investing in qualifying equipment or machinery by deducting from taxable profits in the first year.
Annual Investment Allowance (AIA) remains
This allows businesses to claim tax relief on certain plant and machinery equipment up to £1 million.
Ready to explore how the Budget changes could affect your business? Call us on 01832 770273
WORKING TOGETHER
Simple Steps to Funding
01
Apply
It only takes a minute to get started. Fill in our simple form to check your eligibility.
02
Approval
A BEAR Finance expert will call you within 1 working hour to understand your business' finance requirement.
03
Agreement
We use our expertise and panel of lenders to match you with the right solution. All terms are clearly explained.
04
Funded
In-funds as fast as 1 hour after first contact. Your BEAR Finance expert will provide ongoing support as your business continues to grow.
BEAR Finance Solutions
Short-Term & Tax Loans
- Fast financial support when your business needs it most
- Unsecured without PG available
- Pre-approved in 2 minutes
- Competitive rates from 6.9%
- In-funds as fast as 1 hour
- Use to pay urgent Tax Bills
Term Loans
- Low rate, affordable solutions, precision matched to your business needs.
- Borrow up to £2 million
- Same-day decision up to £100k
- No early repayment fees or redemption penalties
- Unsecured without PG available
- Settle any time and ability to overpay
Consolidation Loans
- Reduce strain on cash-flow
- Lower your monthly outgoings
- Improve budgeting with one, low cost, monthly repayment
- Consolidate secured borrowing onto unsecured facilities
- Combine borrowing from multiple lenders
- Upgrade existing borrowing to reflect current financial performance
Revolving Credit Facilities
- On-demand flexible funding
- Access immediately
- Only pay interest on what you borrow
- Credit limit of up to £1 million
- Terms up to 60 months
- Approved within hours
- Control over how and when you borrow
- No fees for early repayment
- No Director guarantee option available
FUEL YOUR START-UP - WE FUND NEW BUSINESSES ACROSS THE UK
Get in touch to discover how we can secure funding for your start-up
Hard Asset Finance
- Spread large capital expenditure to reduce cash flow strain
- Low rates available with specialist funders
- Overcome budget restraints
- Benefit from annual capital allowance tax relief
- Own your asset from the start of the agreement
- Asset bolster your balance sheet
- Defer VAT for 3 months
Soft Asset Finance
- Avoid large start up or project costs
- Overcome budget restraints
- Terms from 1 - 6 years
- Start-up funding available
- Spread the cost of VAT
- OpEx payments are tax deductible
- Avoid upfront expenditure on depreciating assets
Asset Refinance
- Free up capital on assets already purchased
- Funds paid directly to your business account for immediate cash injection
- Move CapEx onto OpEx to avoid cash flow restraints
- Own the asset at the end of the term
- Tax benefits
- Utilise liquid cash tied up in tangible assets
Franchise Asset Finance
- Fund the fit-out of your new franchise
- Refurb, refresh or expand your existing franchise
- Ideal for fixtures, fittings, equipment and branding
- Preserve capital by avoiding expenditure on depreciating assets
- Achieve tax efficiencies via operational expenditure
- Spread the cost of VAT
- Invest in technology
Bright
Bright in our thinking - we challenge convention to find smarter solutions
Efficient
Efficient in our approach
– our expertise allows us to deliver faster
Accurate
Accurate in our process - we expertly match to enhance approvals
Relentless
Relentless in our drive - we're committed to helping your business grow