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Budget and Ltd Companies

Posted by woodman (woodman), 17 March 2004
Angry
I bet all you  folk out there are well pleased with the Mr Browns tax on enterprise. Angry     as he closes what has now become a loop hole but was once described by the same man as an 'incentive for small business enterprise'. Roll Eyes

Any body considering incorporating their business must now think again.As predicted he has hit all small business's hard while leaving the really wealthy alone.

Just goes to show once again that what a goverment and politicians (of all parties) say they will do to help small business and what they actually do are two very different things  Angry

I can not see that I will ever vote again for anybody.

Brown is a blackguard sir, a blackguard of the first order Grin
Posted by Dave_Lee (Dave_Lee), 17 March 2004
Woodman,
Ive not had chance to study the budget yet. Is it still on the cards that the Vat threshold is being raised to 150.000 from April this year?
Dave.
Posted by squeaky (squeaky), 17 March 2004
I hope so Cheesy
Posted by Ian_G. (Ian_Gourlay), 18 March 2004
Cant find anything abot change in VAT rate.

First Years depreciation allowance is now 50%

How many of you pay for Truckmount outright V lease

Yes Coporation tax is now 19% on profits of limited company. No change to National Insurance on dividens so that loophole is still there.

You claim your tax free allowance through the PAYE system when you pay yourself.
Posted by Ian_G. (Ian_Gourlay), 18 March 2004
I have also just found out that every bit of investment up to 10000 in a small bussiness is tax free.  I think it only applies to Ltd.  This was the origional intention when the 10000 allowancw was first introduced.

In 1997 small bussiness was taxed at 23% it is now 19%


Posted by Scots_cleaner (Scots_cleaner), 18 March 2004
" Hoodwinked"  Small firms attack U-turn

1900.00 to be taxed from the 10K profit

Quote Daily Express 18 march 2004

New it was to good ............ Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry
Posted by Dave_Lee (Dave_Lee), 18 March 2004
Been on the Customs & Excise web site today, re: The budget - Dont know where I got the idea of 150,000 vat threshold, Im sure I saw it somewhere last year (must have been wishful thinking) anyway, the Vat threshold goes up to 58,000 as of April 1st this year, an increase of 2,000 and you can deregister if your turnover went below 56,000 in the previous 12 months, or you have good reason to believe it will be below 56,000 in the next 12 months.
Dave.


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