Latest news

Budget - Key points

For many business owners out there, the term 'budget announcement', is one which many have come to dread following events of recent years. As well as the concern over possible spending cuts and tax rises etc, the announcement can often seem overwhelming.

Last month saw the latest round of announcements but with so much information to take in, how do individuals know what changes will affect them and how? We know how confusing this can be, so weve highlighted a few of the changes which could affect professional painters and decorators.

Jobs and Skills

Funding for 12 further university technical colleges
Extra 40,000 apprenticeships for young people out of work
Funding for 100,000 new work experience placements

For business owners

Corporation tax to be cut by two per cent in April, not one per cent as previously planned
Tax to cut by 1 per cent in each of the next three years, reducing it to 23 per cent
Bank levy to be adjusted so banks do not pay less tax as a result
43 tax reliefs to be scrapped as part of simplification of tax code
No new regulation on firms with fewer than 10 staff for three years
Business rate relief holiday for small firms extended for another year
New rules to require planners to prioritise growth and jobs
21 "enterprise zones" to be created in England, backed by tax incentives
Inflation rise in road tax but duty for HGVs frozen

Green measures