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.”
Ends
Follow us on twitter: @kpmg_uk_llp #budget2012
For further information please contact:
KPMG Press office
Tel: +44 (0) 207 694 8773
Emma Murray, KPMG Corporate Communications
Mobile: 07956 629 361 Email: 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 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 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.
