22nd Jun 2010
A round-up of the key small business tax measures. Keep your eyes on this page as we'll be updating it throughout the day.
Corporation tax rates
- Corporation tax is to be reduced to 24% over four years
- The small companies rate is to be cut from 21% to 20% from April 2011
Capital allowances - the practical impact
- Writing-down allowances on plant and machinery reduced from 20% to 18% per year from 2012 for main rate pool; and from 10% to 8% per year for longer-term special rate pool assets.
- Annual Investment Allowance to be reduced to a maximum of £25,000 from 2012.
- The planned NI rate rises will go ahead, and the threshold will rise by £...