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
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.
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
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