A welcome set of tax measures for SME businesses
The Chancellor’s Budget generally brought a welcome set of tax measures for SME businesses in the North East, and in particular the following measures will be beneficial for a large number of the businesses we advise – these are:
- An increase in the “tax credit” that loss making SME’s carrying out R&D can claim from 11% of the expenditure to 14.5%
- An increase in the amount companies who invest in plant and machinery can get as tax relief in the year of investment from £250,000 to £500,000 for the 2015 calendar year
- An increase in the number of grant funded apprentices which will be available
- An extension of the period that business rates relief and enhanced capital allowances will be available in Enterprise Zones.
This was posted in Bdaily's Members' News section by Alastair Wilson .
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