News: April 2013
Business tax reductions
Big news here, with a flat corporation tax rate announced of 20% from April 2015 whatever your level of profits.
The employer national insurance contributions of 13.8% will enjoy an exemption of £2,000 per annum from the 1st April 2014 whatever the size of business. This is clearly aimed at small businesses to encourage recruitment.
These measures make the UK very competitive for business, and gives all businesses the opportunity to enjoy lower taxes on profits retained in the company and also where paid out.
HMRC updated list of tax deductable fees and subscriptions paid to professional bodies or learned societies
This updated list is always worth looking at in case any claims have been missed. Let us know the details of your payments and we will check that full tax relief has been claimed.