Good Budget or Budget? As usual, a bit of both.
As a business owner, the good bits included:
- Cuts to business rates for some shops, pubs and cafes
- The increase in the personal allowance and higher-rate tax threshold
- Increase in the Annual Investment Allowance to incentivise expenditure on business assets
- Cost of a beer stays the same!
But the bad bits include:
- Reforms to self-employment in the private sector
- Changes to Entrepreneurs Relief to make it harder to get the low tax rate
- Cuts to R&D tax credits for loss-making businesses
- Cost of wine goes up!
There’s a lot to take in, so have a read of our handy summary here:
JDA – Budget 2018 Report for Business Owners
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