companies house made easy

staff parking "stealth tax"

The Forum of Private Business (FPB) has spoken out against a proposed Workplace Parking Levy (WPL) which will charge businesses for providing staff parking spaces.

one in one out with red tape

The Business Secretary, Vince Cable has announced plans to implement a 'one in, one out' system for regulation, to ensure that small businesses aren't burdened with higher costs for compliance.

an end to fixed retirement age

The government plans to scrap the fixed retirement age of 65 from October 2011.

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In the Emergency Budget, the Chancellor has stated that the small companies’ tax rate will be cut by 1% to 20%.

Corporation Tax will also be reduced from 28%, with 1% reductions each year from 2011 until it reaches 24% in 2014.

The government has attempted to protect small companies and start-ups from the spending cuts required to decrease the deficit, as they feel that these companies are likely to play a big role in the economic recovery.

Other significant stories from the Budget include:

• VAT to rise to 20%
• Rise in NI threshold
• Entrepreneurs’ relief increased
• NI breaks for start-ups’ first 10 employees
• CGT increased by 10% - but not for basic rate taxpayers