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 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% and is still proposed to reduce to 17% from April 2020.
- VAT registration limit to remain at £85,000 until April 2022 and the deregistration limit £83,000.
- Reform of CGT lettings relief from April 2020 for landlords, the government is to undergo consultation on proposed changes.