Thursday 24th of March 2011
Business Link are summarising the #budget. There are a couple of things that standout for to us.
- Corporation Tax reduction
The main rate of Corporation Tax will be reduced to 26% from April 2011, with further yearly reductions of 1% until it reaches 23% in 2014. See our guidance on Corporation Tax rates. - R&D Tax Credits
The SME rate of R&D Tax Credits will increase to 200% from April 2011, and 225% from April 2012. - National Insurance rate rise
As previously announced, the National Insurance rate rise will go ahead. - Entrepreneur's Relief
The lifetime limit for Entrepreneur's Relief will be doubled to £10 million. - Personal Allowances
The Personal allowance for income tax for under 65s will be increased to £8,105 from April 2012. - Small Business Rate Relief
The Small Business Rate relief holiday will be extended by one year effective from 1st October 2011.
Take a look at the full Business Link article here http://budget.businesslink.gov.uk/Home.html
Tags: budget(1) business(1)