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The Chancellor presented his Budget
on 23rd March and a copy of our Budget Report is available from clicking here which we hope you find
helpful as a quick reference.
There were several important changes
this year including, amongst others:
- - 2%
reduction in the main rate of Corporation tax to 26%
- - 1%
reduction in the Small companies rate to 20%
- - doubling
of the available amount of capital gains tax relief for entrepreneurs
- - increasing
the annual ISA limit to £10,680
- - limiting
pension contribution relief to £50,000 per annum
- - increasing
the tax free mileage allowance to 45p per mile (up to 10,000 miles)
- - automatic
imposition of the £100 late filing penalty for self-assessment tax returns.
If there are any aspects of the
Budget which you would like to discuss please contact us.
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