Link: Budget special
The move means that an extra 3.7 million businesses will be able to obtain the 40% investment allowance.
Other measures aimed at boosting entrepeneurship and small businesses include the setting up of a web-based training directory in partnership with high street banks, raising the taxable turnover limit for VAT from £55,000 to £56,000 and a new incentive scheme to encourage SMEs to enter into the VAT system.
A new consultation has also been launched – Bridging the Finance Gap – aimed at improving SMEs access to growth capital.
Paymaster general Dawn Primarolo said: ‘This Budget takes further steps to strengthen the business environment and to ensure that all regions in the UK are able to share in a dynamic and enteprising economy.’
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states