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Main items of interest to the majority of small businesses will be:

  • Personal allowances and national insurance rates, please follow tax data information link above.
  • Dividend allowance of £5,000 is to be reduced to £2,000 from April 2018.
  • You can get up to £1,000 a year in tax-free allowances for property or trading income from 6 April 2017.
  • The Corporation Tax rate has already reduced to 19% from April 2017 and is still proposed to reduce to 17% from April 2020.
  • VAT registration limit remains at £85,000 and the deregistration limit £83,000.
  • Indexation relief against Capital Gains Tax frozen from January 2018 for Limited Companies.