{"id":2828,"date":"2016-03-21T00:00:00","date_gmt":"2016-03-21T00:00:00","guid":{"rendered":"http:\/\/hebblethwaites.wpengine.com\/index.php\/budget-for-business\/"},"modified":"2016-03-21T00:00:00","modified_gmt":"2016-03-21T00:00:00","slug":"budget-for-business","status":"publish","type":"post","link":"https:\/\/hebblethwaites.com\/index.php\/budget-for-business\/","title":{"rendered":"Budget for business"},"content":{"rendered":"<p>\n\tJust in case you were wondering what was in the Budget last week for small businesses, we have reproduced below the comments made by George Osborne and posted to the GOV.UK website:<\/p>\n<h4>\n\t<strong>Backing business and creating opportunity<\/strong><\/h4>\n<p>\n\tThis Budget backs business and enterprise to drive up productivity growth and create job opportunities. This Budget continues to lower taxes, with new support for small business and entrepreneurs, while also modernising the tax system and taking steps to ensure that taxes are fair and are paid.<\/p>\n<p>\n\tThe government will:<\/p>\n<ul>\n<li>\n\t\tcut the rate of corporation tax to 17% in 2020, benefiting over one million companies, large and small<\/li>\n<li>\n\t\tcut business rates for all properties in England, with 600,000 small firms paying no rates so that the business rates burden will fall by &pound;6.7 billion over the next five years<\/li>\n<li>\n\t\tcut the higher rate of Capital Gains Tax from 28% to 20% and the basic rate from 18% to 10% from April 2016 (except for residential property and carried interest), and extend entrepreneurs&rsquo; relief to long term investors in unlisted companies<\/li>\n<li>\n\t\tcut National Insurance contributions for 3.4 million self-employed people, by abolishing Class 2 National Insurance<\/li>\n<li>\n\t\tmodernise the corporation tax rules on losses, making the system more flexible for businesses while ensuring that companies making large profits pay tax on these, and further restricting banks&rsquo; use of their historic losses<\/li>\n<li>\n\t\treform Stamp Duty Land Tax on non-residential property transactions, cutting the tax for many small businesses purchasing property, with over 90% of non-residential transactions paying the same or less<\/li>\n<li>\n\t\tabolish the bureaucratic and burdensome Carbon Reduction Commitment energy efficiency scheme and replace it, in a revenue neutral way, with an increase in the Climate Change Levy from 2019<\/li>\n<li>\n\t\tsupport the oil and gas industry by permanently zero-rating Petroleum Revenue Tax, reducing the Supplementary Charge from 20% to 10% and introducing targeted measures to encourage investment in exploration, infrastructure and late-life assets<\/li>\n<li>\n\t\tgive large companies more time to prepare for a new corporation tax payments schedule, with a broadly neutral impact on the public finances<\/li>\n<\/ul>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>Just in case you were wondering what was in the Budget last week for small businesses, we have reproduced below the comments made by George Osborne and posted to the GOV.UK website: Backing business and creating opportunity This Budget backs business and enterprise to drive up productivity growth and create job opportunities. This Budget continues [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-2828","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts\/2828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/comments?post=2828"}],"version-history":[{"count":0,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts\/2828\/revisions"}],"wp:attachment":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/media?parent=2828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/categories?post=2828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/tags?post=2828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}