Budget 2016 - small business verdict?

By : Administrator
Published 16th March 2016 |
Read latest comment - 21st March 2016

Hmm, so relevant headlines seem to be:

  • New threshold for small business rates, from £6000 - £15,000.
  • Corporation Tax set to reduce from the current 20% to 17% by 2020.
  • Fuel Duty frozen again
  • Booze duties frozen (ok not business related, but obviously important )
  • Tax free allowance goes up to £11,500
  • 0.5% rise in insurance premium tax
  • Isa limits rise from £15k to £20k
  • Commercial stamp duty - 0% upto £150k, 2% on next £100k, with top rate of 5% above £250k.

Would have been nice to see a bigger cut of corp tax in light of the recent dividend changes, but suppose at least it hasn't gone up!

Any thoughts?


Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn
Comments

They're abolishing class 2 NI contributions I see, which I am about to pay voluntarily so I qualify for maternity allowance. Interesting. 

Business aside, the biggest concern for me is all schools becoming academies....really??? Hideous idea.


Received a nice info graphic from Natwest which outlined the points quite well. Can't beat a picture


Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn

Hi all,

As you can imagine and probably seen, there has been a lot of hype surrounding the Budget for 2016 in the news over the past week.

Here is our interpretation of the highlighted changes and measures made by Chancellor of the Exchequer 'George Osbourne' .

http://goo.gl/e2grRA

''Remember to join our mailing list so you never miss an update''

http://goo.gl/NvIvD0

Have a great day and an even better weekend.


Thanks,
Dan Horton

I think most small business owners will be pleased not to have to now pay business rates, as it means they'll have more to invest in their business or even employ someone...


Thanks,
Barney

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