Budget '11 Review
Posted by admin on 25 March 2011 | 0 Comments
As promised yesterday we have an overview on how the budget will affect business, unincorporated and incorporated alike.
Corporation tax; It is made known last budget that corporation tax rates are going to be falling by 1% every year. However George Osbourne decided to reduce the rate by 2% this year so it will stand at 26% for larger companies. Small companies rate only went down by 1% to 20%.
Capital allowance have remained unchanged. From April 2012 the Annual Investment Allowance will be dropping from £200,000 to £25,000. Bearing this in mind it is strongly advisable to purchase capital expenditure sooner rather than later.
VAT Thresholds have been tinkered slightly and have increased by £3k to £73,000, deregistration has upped from £68k to £70k.
For further details or an in depth analysis of the budget, request on our enquires page.