Budget 2000: Main points for 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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