The Government has provided some details of its tax and business proposals. These include: | - | Raising the personal allowance from April 2011 | | - | Raising the employer threshold for National Insurance | | - | Introduce transferable tax allowances between spouses | | - | Income tax rates will be applied to non-business capital gains with exemptions for entrepreneurs | | - | Furnished holiday lettings will retain their business status, ie qualifying for reliefs as business assets | | - | IR 35 to be reviewed and replaced with simpler measures | | - | Headline rates of Corporation tax to be lowered, with simplification of reliefs and allowances | | - | Small business rate relief to be automatically applied | | - | Employment and workplace laws to be reviewed | | - | Setting up a business to be simplified |
If you would like to know how the above proposals could affect you then please contact us.
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