Accountancy services for the small business

use this link to access HM Treasury’s easy to read June 2010 budget document…

http://www.hm-treasury.gov.uk/junebudget_easyread.htm

VAT to rise to 20% from January 2011

Increase of £1000 on personal allowance

Capital gains tax rise to 28% for higher rate earners. Remains at 18% for lower and basic rate tax payers. Capital gains allowance remains unchanged at £10,100

Entrepreneurs relief remains at 10%, lifetime limit increased to £5 million

Small company corporation tax reduces to 20%

Corporation tax to reduce by 1% a year for the next 4 years

Emergency Budget – new coalition government announces budget date 22 June 2010

Likely changes include rise in VAT and rise in capital gains tax