April. It’s a month that often brings change, and for businesses across the UK, April 2025 is shaping up to be a particularly significant one. With a trio of increased costs looming, it’s crucial to be prepared.
At Goodman Nash, we understand the challenges businesses face in an ever-evolving economic landscape. That’s why we’re here to help you navigate these upcoming changes and ensure your business remains resilient.
The triple challenge: National Living Wage, National Insurance, and business rates
Let’s dive into the specifics:
- Increased National Living Wage: As part of the government’s commitment to improving living standards, the National Living Wage is set to rise again in April 2025. This means increased payroll costs for many businesses, particularly those in sectors with a high proportion of lower-wage employees.
- Increased National Insurance contributions: Alongside the National Living Wage, changes to National Insurance contributions will also impact your bottom line. These adjustments can add further pressure to your financial planning.
- Increased business rates: Perhaps one of the most keenly felt increases will be in business rates. As new bills are landing on doorsteps across the nation, many business owners are facing steeper charges. These rate increases can significantly impact your operational costs, especially in high-value property areas.
Why now is the time to act
You’ve likely just received your new business rates bills, making it the perfect moment to take a proactive approach. Don’t let these rising costs catch you off guard.
At Goodman Nash, we specialise in helping businesses optimise their business rates. We understand the complexities of the valuation system and can help you identify potential overpayments or grounds for appeal.
How We Can Help
- Comprehensive review: We conduct a thorough review of your business rates assessment to identify any potential savings.
- Expert advice: Our experienced team provides expert advice on your rights and options, guiding you through the appeal process if necessary.
- Maximising savings: We work diligently to ensure you’re paying the correct amount, helping you reduce your business rates liability.
Don’t face these challenges alone
The combined impact of increased wages, National Insurance contributions, and business rates can be daunting. But you don’t have to face these challenges alone.
By reviewing your business rates now, you can take a significant step towards mitigating the financial impact of these upcoming changes.
Let’s talk
If you’re concerned about your business’s rising costs, particularly your business rates, we’re here to help. Contact Goodman Nash today at 01380 739112 or email contactgn@goodmannash.co.uk for a no-obligation review. Let us help ensure your business is prepared for April 2025 and beyond.