TaxPersonal TaxBudget 2000: Main points for small businesses

Budget 2000: Main points for small businesses

Click here and scroll down to read the main points of the Budget affecting small businesses.

New starting rate of corporation tax to be introduced as planned from April 1.

First year capital allowances at 40% on all plant and machinery investment to be retained.

Quarterly PAYE scheme to be extended to an additional 40,000 employers.

VAT registration threshold up to £52,000.

Enterprise Management Incentives to help companies to retain skilled staff.

Research and development tax credits available from April 1.100% capital allowances for smaller companies that invest in IT over the next three years.

A £60m package to help small firms get online.

An extra £50 discount for small employers paying tax credits to their employers.

More help on payroll issues.

Increase in quarterly payments limit for PAYE.

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