Budget Report 2024Fitzgerald Power’s Budget 2024 Overview:Download Budget Report ’24Budget Day 2024 was certainly a day of no surprises. That’s the nature of the day now, with all matters well flagged in the Summer Economic Statement. Financial management craves certainty, and that’s what we got.A giveaway budget it was not – but for this day at least everyone will feel a little better off, which is unusual.Further widening of the tax bands and increased tax credits together with various amendments to the social welfare packages are acknowledgements of the cost of living pressures.From a business perspective, the ‘a little for everyone’ theme is repeated. The most interesting element being the Increased Cost of Business Scheme, which will offer one-off grants up to 130,000 SMEs in the form of tiered grants equivalent to up to 50% of the commercial rates paid this year, with grants to be paid in early 2024.The new targeted Capital Gains Tax relief for angel investors in innovative start-up SMEs allows angel investors to benefit from a reduced rate of CGT. The amendments to the Employment Investment Incentive scheme (EII) in standardising the investment period to four years for all investments and doubling the amount investors can claim relief on for four-year investments to €500,000 are welcome for smaller, early-stage businesses which are typically most in need of funding.But as Michael McGrath said Budget 2024 was formed against a “backdrop of global uncertainty – both economic and geopolitical” so in reality every day seems like a Budget Day.Download our report here, for your own sake if nothing else, and see how this year’s Budget can positively impact you.Get in touch with us if you have any questions or need advice on implementing any of these changes. Further Articles Market Pulse Report Q2 2023Market Pulse is an analysis of the key trends in the SME sector, prepared by Fitzgerald Power on a quarterly basis. Check it out here. Read Blog Pharmacy Pulse Report Q2 2023Analysis of the key trends in the Irish Community Pharmacy sector, prepared by Fitzgerald Power on a quarterly basis. Read Blog
