Business information contains useful information about business structure, important deadlines, and requirements for small business owners.
Autumn Statement 2015 – Small businesses related changes
Digital taxation – Small businesses would receive digital identifies by 2017. Digital tax forms would be introduced by 2020 and reporting would be done quarterly.
The Government is extending many of the existing enterprise zones, creating new ones and taking the total to 26. In these zones firms pay reduced taxes and receive business support, in a bid to help create more start-ups and stimulate growth in the sector.
Business rate reliefs help the nation’s smallest firms to pay less tax on their premises. The business rate relief would be extended to April 2017. A hundred percent relief from business rates would benefit around 400,000 of the smallest businesses, a further 200,000 would benefit from tapering relief.
Entrepreneurs’ relief remains unchanged. So directors who own 5% or more keep the right to enjoy 10% tax rate on capital gains up to a lifetime limit of £10m.