Entrepreneurs
View Deloitte's summary and analysis on the measures affecting entrepreneurs announced in the Emergency Budget 2010.
The main rate of corporation tax will fall to 27% for 2011-12, with further 1% cuts in the following three years.
The Government will consult business on a long term
approach to the taxation of R&D based on the
proposals contained in James Dyson's report.
The Chancellor announced a regional employer NIC holiday for new businesses.
National Employment Savings Trust (NEST) pension schemes will benefit from the same tax reliefs currently available to registered employer and personal pension schemes.
Other entrepreneurs measures
- Abolition of the IP requirements from SME R&D regime
- Enterprise Management Incentives
- Excise duty: cider duty - reversal
- First year allowances on zero-emission goods vehicles
- General anti-avoidance rule ('GAAR')
- Income tax and National Insurance allowances and bands
- Pensions: Deferring the effective requirement to buy an annuity
- Pensions: restricting higher rate relief
- Personal service companies: commitment to IR35 review confirmed
- Rule changes on the deduction of income tax at source
- Tackling anti avoidance: use of trusts
- VAT: changes to the standard rate and anti-forestalling measures
- Video games tax relief
