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
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
The SME community voices concern about the chancellor's measures in the Spring Budget
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals
One of the bigger announcements of the final Spring Budget is the raising of Class 4 NICs for the self-employed