£100 million Tax Break Planned for Small Firms
Chancellor George Osborne is set to announce a £100 million tax break for entrepreneurs who want to invest in the UK’s fastest growing businesses.
He plans to raise income tax relief from 20 percent to 30 percent for Enterprise Investment ventures.
Osborne said: “We want to make the UK the best place to start, finance and grow a business. These changes will give a bigger tax break to those who take risks for growth and jobs in Britain by investing in the small companies that have the potential to be fast growing.”
The Treasury said high growth companies comprise only 6 percent of businesses in the UK that employ more than 10 people. In the past three years though, they have been responsible for creating 54 percent of all jobs in companies that have more than 10 staff.
The chancellor is confident that the move will raise the amount of capital available to small businesses and will act as an alternative to bank credit.
His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.
Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.
Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.
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Ricky worked as an Investigator in the Inland Revenue for over 20 years before founding Steedman & Company in 1987, giving him the experience and knowledge that enabled him to help so many clients over the years.
His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.
Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.
Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.
