The October 2024 UK Budget introduced several changes with direct implications for small businesses. Employer National Insurance contributions increased to 15 percent from April 2025, with the secondary threshold reduced to £5,000. The Employment Allowance increased to £10,500. Business rates relief for retail, hospitality, and leisure was extended at a reduced level. Capital gains tax rates on business assets increased. Small businesses should review the combined effect on their cost base and tax planning.