TaxCorporate TaxBudget 08: More grants for SMEs

Budget 08: More grants for SMEs

Darling pledged to increase the funds available to small and medium enterprises

Small and medium businesses will benefit from an increase in grant funding,
Alistair Darling announced in today’s Budget.

For the coming year, £60m will be available to SMEs in grants, and the
eligibility criteria will be widened to include all small and medium
enterprises.

Darling also confirmed the entrepreneurs’ relief scheme would come into
effect, which he said would benefit 80,000 people. The majority of small
business owners would continue to pay 10% in capital gains tax, he said.

He also said SMEs should have better access to government contracts, pledging
to award 30% of contracts to these firms.

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