George Bull, of Baker Tilly, is reported saying that a typical small business paying 19% corporation tax ‘enjoys a £19 allowance against its tax liability for every £100 of technology capital expenditure.’
But the credit runs out at the end of March, so from 1 April, the allowance would drop to £4.75 in the first year for every £100 of expenditure.
Gordon Brown might use his Budget speech to reinstate the allowance, however, as an antidote to some of the bad news he is bound to release.
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...