The first budget from the new Labour government was not as drastic as the rumour mill had been suggesting, with a balance struck between fiscal prudence and the need for longer-term investment for growth. Some notable updates to the UK tax system are set to impact talent acquisition and recruitment.
While employees’ National Insurance remains unchanged, employers’ NI has been increased by 1.2%, raising the total to 15% with immediate effect. Additionally, the secondary threshold has been lowered to £5,000, although this is largely offset by an increase in the Employer NI allowance to £10,500. The impact of this rise will likely be absorbed, resulting in modest percentage increases at annual staff reviews.
Increases in capital gains tax at a lower rate, from 10% to 18%, and at a higher rate, from 20% to 24%, may impact future plans for M&A activity. Alongside increases to the thresholds for Business Asset Disposal Relief (previously Entrepreneurs’ Relief), this may prompt some to dispose of assets before April 2025 or to hold for the longer term, potentially affecting long-term staffing plans.
With the VAT exemption and business rate relief for private schools being removed in 2025, some slowdown is expected in this sector, though it is expected to be offset by increased investment in healthcare and infrastructure. For the hospitality, retail, and leisure sectors, the business rate relief will provide a welcome breath of relief for those focused on staffing to grow.
Thanks to our CFO Matthew Grimsdale for giving the low down on what the Autumn budget 2024 means for businesses.
Who is Gaia best for
Gaia suits in-house recruitment teams, agencies and RPOs who want:
- To reach beyond job boards into the open web and social channels.
- Real-time campaign optimisation and data-driven decision making.
- Flexibility between self-serve and managed service.
- Seamless integration with existing ATS workflows.
- A measurable lift in quality and volume of applicants.
Adzuna works well for teams who want a large active-jobseeker search audience, now combined with social advertising and candidate automation, delivered as a managed service.
Final word: Gaia vs Adzuna
If you need broad, AI-targeted reach, multi-channel automation and real performance data, Gaia delivers a fundamentally different proposition to job board aggregators like Adzuna. Both now operate in social recruitment advertising, but Gaia is purpose-built for performance, with broader reach across the open web and paid search, real-time cross-channel optimisation, cookie-free retargeting and the choice of self-serve or managed delivery. For TA, HR and EB leaders tasked with hitting hiring targets in competitive markets, Gaia provides the tools, intelligence and flexibility to succeed.
Learn more about GaiaComplete or book a demo to see it in action.