Autumn Statement 2014

Our expert insight and opinion on the Autumn Statement 2014

  • Our 'Agents of growth' research has already shown that the MSB segment has continued to be disproportionately valuable throughout the downturn, contributing £305 billion to UK GDP in 2013 alone.

    Jonathan Riley Head of Tax

    22/10/2014 10:00

  • We are continuing to call for personalised account management for MSBs by government and a dedicated team to look at MSB issues, which would provide the focus needed, while also identifying any cumbersome processes that should be removed.

    Jonathan Riley Head of Tax

    19/03/2014 12:40

  • We know that finance remains a concern for MSBs and again, encourage government explore a provision for corporate venturing which would channel the great cash reserves that are currently sitting on balance sheets, to dynamic MSBs, while also enabling strategic partnerships.

    Jonathan Riley Head of Tax

    22/10/2014 10:10

  • Our interaction on the ground with businesses, as well as our most recent survey findings, show that extending the under 21 employers' NIC exemption to all apprentices would increase the number of businesses offering high quality opportunities.

    Jonathan Riley Head of Tax

    22/10/2014 10:00

Budget 2013

Budget 2013

On 20 March 2013 the Chancellor announced his Budget for the coming year. The key announcements covered:

  • A reduction in the corporation tax rate to 20% from April 2015
  • A £2,000 employment allowance from April 2014
  • A new capital gains tax relief on the sale of a controlling interest in a business from 2014
  • Income tax and National Insurance relief on shares for employee shareholders from 1 September 2013
  • An increase in the new above the line research and development tax credit to 10% from 1 April 2013
  • The removal of Stamp Duty on shares traded in growth markets such as AIM and ISDX Growth Market from April 2014

The Finance Bill 2013, published on 28 March 2013 contains (amongst other things), legislation to introduce:

  • A general anti-abuse rule from the date of Royal Assent
  • A limit on income tax reliefs from 6 April 2013
  • An 'above the line' research and development tax credit from 1 April 2013
  • A statutory residence test from 6 April 2013
  • Corporation tax reliefs for the creative sector from 1 April 2013
  • An annual tax on enveloped dwellings from 1 April 2013 (and capital gains tax on such dwellings from 6 April 2013)

 

Key highlights

 

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