Wednesday 21 March 2012
Commenting on the announcements made by the Chancellor in his Budget today, David Bywater, Tax Partner said :
“The Chancellor did help to create a more attractive and settled tax landscape for the SME sector with corporate tax rates falling faster than anticipated and hints that a 20% corporate tax rate was his longer term wish list
“By doubling the value of tax advantaged employee share awards he sent a message that he wants to see wider employee share ownership, and with targeted reliefs such as enhanced capital allowances in extended enterprise zones and new incentives for sectors such as film and gaming, where we are world leaders, he is trying to stimulate confidence and growth.
“With already announced changes to R&D tax credits and with initiatives such as Patent Box there is a lot for the SME community to be hopeful about. These incentives and general support, and clarity on reducing the 50% tax rate, should encourage entrepreneurs to invest in their businesses, which hopefully stimulates growth and job creation.”
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