Small businesses have been given a partial boost by the Chancellor.
The income tax relief threshold on investments is raised by 25% to £500,000
from £400,000. The employee share limit for tax relief under the Enterprise
Management Incentive scheme will also increase from £100,000 to £120,000.
Despite the boost, entrepeneurs will still pay a flat rate of 18% on capital
gains. Only those with more than a 5% stake in a company will qualify for the
entrepreneurs’ relief of a 10% tax rate on the first £1m of business asset
Report argues that the government must change the way it makes tax and budget decisions
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
Drastically fewer offices for HMRC in the hope to reduce their running costs
Laurence Field, the head of tax at national audit, tax and advisory firm Crowe Clark Whitehill outlines the 6 'unexpected items' regarding HMRC's Making Tax Digital plans