London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

Budget 2012 - Small companies

The Chancellor has announced proposals for some respite from paperwork for small businesses, with consultations on:

  • Business car and home expenses, which may result in some form of flat rate expense to save detailed record keeping of such expenses and of the business/private proportions.
  • A voluntary cash accounts basis for unincorporated businesses with turnover up to the VAT registration threshold.
  • Disincorporation relief. Though it is too early to be sure, this could be a positive step that may enable small companies to be unravelled and allow the proprietor to continue trading in an unincorporated capacity. Presently the costs and potential tax arising can be prohibitive.

 

 

 

Date: 21st March, 2012
Author: Mercer & Hole Media

SHARE THIS

Articles from this Author

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.

Tweet

Good luck to Michael Lapham at the #MMFPAwards and everyone who has been shortlisted for an award #FinancialPlanning #Retirement

Mercer & Hole’s Gill Tallon and @lisajspearman listed in Who’s Who Legal Private Client 2017 bit.ly/2imZEX4 @whoswholegal

Follow

LinkedIn

For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn