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The budget announcement continues to be a ‘laugh a minute’ as successive chancellors take the opportunity to present their comedy chops and ridicule the opposition whilst the house of commons roars like a herd of asses’. This year there were a lot of ‘long economiky words’ and a promise of ‘maths for everyone’ amongst other gags.
There are proposals to reduce the VAT registration limit to capture more small businesses and increase tax revenue. 55% of small businesses are below the VAT threshold. Find out how you could be effected.
This is the most generous tax relief available and is targeted at businesses who are developing new ideas and growing the body of knowledge in their industry and beyond. This is relevant to the future, and any work done in the last two years.