The small business Budget

Simon Sweetman offers his assessment of the small business measures introduced in the Budget.

This Budget is mostly about small business. We cannot ignore the macroeconomics, and it may well be the case that the chancellor has got this horrendously wrong and that the massive cuts in public spending and the consequent job losses will plunge us into the double dip recession.

Continued...

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Comments
Wild Billy's picture

There are 850,000 payers of small profits rate

Wild Billy | | Permalink

941,000 payers of CT in 2007/08: 47k @ main rate, 40k at MSCR and 850,000 @ lower rate. 1.3m companies in the UK so about 350,000 don't pay CT.

http://www.hmrc.gov.uk/stats/corporate_tax/11-3-corporation-tax.pdf

Fiscal drags

mikewhit | | Permalink

What about all the fiscal drags, allowances and thresholds that were not updated with inflation ?

I suppose George (Gideon?) is happy to continue with those ...

sue scherzo's picture

vat rise

sue scherzo | | Permalink

I think the effecta are over stated here. History shows that such rises have a twofold effect- the first is to boost pre vat rise sales , the second in a temporary downturn for about another quarter fiscally. If you look at the price rise which in required on say a TV, household electricals etc it is unlikely to be a 'make or break' increase...just as the drop was last year.

Wild Billy's picture

Unlike Gordon...

Wild Billy | | Permalink

... I agree with Sue. Business groups aren't going to be able to make a credible case for the harmful effect of the VAT rise when they made such a loud noise saying the cut to 15% made no difference.