United Kingdom

Details

  • Service: Tax, Corporate Tax, Employment Issues
  • Type: Press release
  • Date: 05/12/2013

Autumn Statement 2013: Small business benefits from Chancellor’s ‘giveaways’ 

George Osborne delivered an Autumn Statement of giveaways for small businesses that went far wider than the SME community expected according to KPMG. Commenting on the announcement, David Bywater, Tax Partner at KPMG’s national market practice said: “The small business sector was definitely a winner in the Autumn Statement with the announcement of a number of very positive measures. The Chancellor ha

George Osborne delivered an Autumn Statement of giveaways for small businesses that went far wider than the SME community expected according to KPMG.

 

Commenting on the announcement, David Bywater, Tax Partner at KPMG’s national market practice said: “The small business sector was definitely a winner in the Autumn Statement with the announcement of a number of very positive measures.  The Chancellor has obviously listened to the SME community and delivered on key areas such as skills, business rates and access to finance to help them grow.

 

“The surprise measure though is the removal of employer’s NICs completely for 16 – 20 year olds. Most SMEs now pay more in National Insurance Contributions (NICs) than they do in Corporation Tax so this announcement will be most welcomed by the SME sector as it will reduce the costs to business and hopefully in turn support job creation.

 

“Overall, the SME community will also be happy with the commitment from the Chancellor to investment in major infrastructure projects and up skilling our young people which will in the long term create an environment for all UK businesses to compete effectively on the world stage.”‎

 

Ends


Follow us on twitter: @kpmguk #AS2013
www.kpmg.com/uk/autumnstatement

 

For further information please contact:
KPMG Press office
Tel:  +44 (0) 207 694 8773
Emma Murray, KPMG Corporate Communications
Tel : 020 7694 6506
emma.murray@kpmg.co.uk


 

About KPMG:

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.

 

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Emma Murray

Emma Murray

PR Manager - SMEs, Tech City and the London Region

KPMG in the UK

020 7694 6506 / 07956 629361

Email Emma