Breaking news from the BBC Paper tax returns to be replaced by digital by 2020


Chancellor George Osborne delivers his last budget before the General Election


Education and VAT


Prepare for 2017 rates revaluation


Why are other countries interested in UK tax info?


Tax Tips

News Items


Great with People
Brilliant with numbers
Clear and precise with words

Call us now on 023 8083 6900 ABDS Home

News - 19 December 2011

Boost to SME’s

The Chancellor’s November statement provides some encouragement for the funding of the small and medium enterprise (SME) sector to promote growth

Proposals include changes to the existing Enterprise Investment Scheme and Venture Capital Trusts, coupled with a new ‘Seed Enterprise Investment Scheme’ targeted at start-ups and available from 6 April 2012.

The coalition government is making other minor amendments to the Enterprise Investment Scheme which can be assumed will also apply to these proposals.
Other initiatives to help boost the economy include 100 per cent capital allowances for companies that locate in the new enterprise zones, confirmation of the reduction in the main rate of corporation tax to 25 per cent from 1 April 2012 as well as much needed reforms to corporation tax to make the UK more competitive in the international arena.
Lavinia Newman, Founder of ABDS says:

“New start up companies will be able to raise up to £150,000 using the scheme and individual investors will obtain an income tax credit equivalent to 50 per cent of their investment, effectively having their money doubled by the government.”

Other announcements in the Chancellor's statement include:

  • Annual Capital Gains Tax Allowance Frozen
  • Temporary relief on Stamp Duty Land Tax for first time Buyers
  • Corporate tax: 100% Capital allowances in Enterprise Zone
  • Research & Development Tax Credits
  • Controlled Foreign Companies and Patent Box
  • Bank Levy increase from 1 January 2012 to 0.088%.

If you need any help and advice for your business or financial planning don’t hesitate, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

« Back to News