New companies will be in line for relief on their employer National Insurance
contributions if the Conservatives come into power.
Shadow Chancellor George Osborne announced that a future Conservative
government would exempt start-ups from paying employer NI contributions,
presently 11% up to the upper earnings threshold of £844 per week, on the first
ten employees it hires during its first year,
This would only apply for the opening two years of a Tory tenure.
According to Osborne, the tax break will encourage new entrepreneurs and
would generate around 60,000 additional jobs over two years.
However, the Labour government has dismissed the proposed tax break as a ”
gimmick” while the Liberal Democrat party warned that the move could give new
firms an unfair competitive advantage over their more established rivals.
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...