annual tax rates

Budget 2013 – Annual Tax Rates and Allowances

Budget 2013 – Annual Tax Rates and Allowances

On 20 March the Chancellor announced his Budget for the coming year. The key announcements covered: A reduction in the corporation tax rate to 20% from April 2015 A £2,000 employment allowance from April 2014 A new capital gains tax relief on the sale of a controlling interest in a business from 2014 Income tax and National Insurance relief on shares for employee shareholders from 1 September 2013 An increase in the new above the line research and development tax credit to 10% from 1 April 2013 The removal of Stamp Duty on shares traded in growth markets such as AIM and ISDX Growth Market from April 2014 NOTE: The figures contained in this article are subject to amendment as the Finance Bills pass through Parliament. This article is a guide only and advice should be taken before acting on ... »

Budget 2012 – Annual Tax Rates and Allowances

Introduction George Osborne’s third budget was once again a "budget for growth" just like last year, but the chancellor also stated it as a "budget for business" saying that it "unashamedly backs business and is on side of aspiration." The key points of the budget 2012 for small business were: The cutting of the 50 top tax rate to 45p from April 2013 Increasing personal income allowances to £9,205 from April 2013 Cutting corporation tax to 24% from April 2012 Announcing new Scottish enterprise zones in Dundee, Irvine and Nigg and a Welsh enterprise zone is to be created in Deeside. Simplifying the tax system Offering tax relief to video games, animation and high-end TV production businesses No changes to fuel duty Vehicle Excise Duty (VED) will ris... »