£10BN BOOST FOR BUSINESS

摘要

In a Budget designed to stimulate business, the Chancellor announced la series of measures worth £10.8bn to support small to medium-sized companies (SMEs) including cuts to capital gains tax (CGT) and corporation tax, an extension of entrepreneurs' relief and a reduction in business rates. Corporation tax will fall to 17% by 2020-21, bringing the UK closer to the Irish rate of 12.5%. A major surprise was the 8% cut in capital gains tax (CGT) to 10% from 18%, while the 28% rate for higher rate taxpayers dropped to 20% for chargeable gains, except in relation to disposals of residential property (that do not qualify for private residence relief), and carried interest.