companies house made easy

self-assessment deadline extended

Sole traders, entrepreneurs and other individuals who are required to fill out self-assessment tax returns will not receive a late filing penalty if they make their submission on the 1st or 2nd of February.

schools must develop entrepreneurs

The Forum for Private Business has called for schools to play a leading role in encouraging entrepreneurship amongst young people.

google targets welsh SMEs

Search engine giant Google has announced a 12 month campaign to get businesses in Wales to start using the web.

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From midnight on 22nd June 2010, Capital Gains Tax is to be increased to bring it closer in line with income tax rates, although people paying the basic rate of income tax will not see a rise.

The new rate of CGT for high earners will rise to 28%, but there will be no change in the rate for people on low and middle incomes, who will still be charged 18%.

The Chancellor made his announcement using the example of a business owner earning hundreds of thousands each year paying a lower rate of tax than their cleaner because of the low rate of CGT.

Other Budget announcements are:

• VAT to rise to 20%
• Rise in NI threshold
• Corporation tax cut for SMEs
• Entrepreneurs’ relief increased
• NI breaks for start-ups’ first 10 employees