UK Communities Secretary Sajid Javid has proposed a draft law to reverse the so-called ‘staircase tax’ that raised the local rates paid by small businesses on their premises.
Inheritance tax (IHT) is payable at 40 per cent on the value of what an individual owns when they die, if the value of the estate is at least £325,000. However, if the individual owns agricultural or business property, then the value of those assets may be relieved from IHT.
A recent study has found that the number of people aged 50 or over in work is rapidly increasing and will make up the majority of the UK’s self-employed workforce within the next seven years.
The UK Space Agency has revealed plans to make the UK a haven for space start-ups from across the globe, as it aims to grow its space industry to control 10 per cent of the global market by 2030.
Recent research has found that member firms of the 100 Group, known to be the UK’s largest businesses, employed a total of more than 2 million people in 2017 and contributed a record £82.9 billion in taxes, accounting for 13 per cent of the UK’s total tax receipts.
The Confederation of British Industry (CBI) has predicted that economic growth, which it describes as “timid” for this year, will remain “steady but sluggish” in 2018 with “tepid” growth.
Recent research has found that large enterprises in the UK should pay more attention to start-ups and digital disruption, or face having their own business affected by the newcomers.
The UK is levied more on property as a percentage of GDP than anywhere else in the world, according to a new report.
In last week’s Budget, Chancellor Philip Hammond announced that the Government is to publish its “Action Plan” to unlock £20 billion of new investment in UK scale-ups through a new funding injection into the British Business Bank (BBB).
Chancellor Philip Hammond has put forward his proposals for the future in today’s (November 22) Budget and said he recognises the great pressure small businesses in the UK are under.