In the pre-Budget report announced today, the chancellor said he would introduce tax cuts that would save Britain’s small businesses Pounds 1000 per year.
He added he would introduce a new flat rate for VAT and extend the 10p corporation tax band
The Patrick Carter Review, a paper on small businesses, will also be published and Brown said he was opening consultation to help this sector of the economy.
Brown said in Commons: ‘So – far from deferring our enterprise agenda – this is exactly the time to press ahead with supply side reforms to encourage new investment and higher productivity and it is now right that we take forward the measures on enterprise on which we have been consulting.’
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...