MEMBERS UPDATE 1st NOVEMBER 2024

Annual General Meeting and Training Awards

The Annual General Meeting and Training awards will be held on Sunday 17th November 2024 at the Alona Hotel, Strathclyde Country Park, Hamilton Rd, Motherwell ML1 3RT (1130am to 330pm including 2 course lunch).
We have some excellent speakers and look forward rto seeing as many of you as possible on the day. The AGM Papers you should have received. Please can you book your places by calling Bruce Tel: 01738 637472 or email [email protected].

UK Autumn Budget 2024 – Summary for butchers

Minimum Wage
National living wage (the legal minimum for over-21s) will increase to £12.21 (6.7%) equivalent to £1,400 a year for an eligible full-time worker.
For 18 to 20-year-olds, the minimum wage will rise from £8.60 to £10.
There will be a single-adult rate phased in over time to eventually equalise pay for under-21s.

National Insurance
Employers' national insurance contributions rise by 1.2 percentage points to 15% from April 2025.
The secondary threshold when contributions are due reduces from £9,100 to £5,000.
However, the employment allowance will increase from £5,000 to £10,000 which does provide some shielding for the smallest businesses.

Capital Gains & Inheritance Tax
Capital gains tax will be increased. The lower rate will be raised from 10% to 18%, and the higher rate from 20% to 24%.
The government will extend a freeze on the threshold for inheritance tax to 2030, allowing £325,000 to be inherited tax free. From 2027 inherited pension pots will also be subject to the tax.
Reliefs will be reformed for business and agricultural assets. After £1m, those assets will attract inheritance tax of 20%.

Full details of the budget can be found here – https://gov.uk/government/publications/autumn-budget-2024/autumn-budget-2024-html

The Scottish government budget will be announced in December.

If you have any questions or queries, please get in touch using the contact details below.
MEMBER SERVICES – Bruce McCall:             [email protected]                01738 637472
CRAFT SKILLS SCOTLAND – Claire Simpson:    [email protected]               01738 637785

Scottish Craft Butchers
8-10 Needless Road
Perth PH2 0JW
Tel: 01738 637472
Mobile: 01738 637472
twitter.com/scocraftbutcher
facebook.com/scottishcraftbutchers/
www.craftbutchers.co.uk