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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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