Member Article

A welcome set of tax measures for SME businesses

The Chancellor’s Budget generally brought a welcome set of tax measures for SME businesses in the North East, and in particular the following measures will be beneficial for a large number of the businesses we advise – these are:

• An increase in the “tax credit” that loss making SME’s carrying out R&D can claim from 11% of the expenditure to 14.5%
• An increase in the amount companies who invest in plant and machinery can get as tax relief in the year of investment from £250,000 to £500,000 for the 2015 calendar year
• An increase in the number of grant funded apprentices which will be available
• An extension of the period that business rates relief and enhanced capital allowances will be available in Enterprise Zones.

This was posted in Bdaily's Members' News section by Alastair Wilson .