UK BUDGET 2015
Chancellor George Osborne presented his 2015 Budget to Parliament on 18<sup>th</sup> March 2015.

He opened his speech by saying that the country is "walking tall again" and described this year's Budget as one of an economy "taking another big step from austerity to prosperity".

Key points affecting small and medium-sized firms include:

<strong>- The minimum wage will be raised to £6.70</strong>.

<strong>- ‘Google’ tax has been introduced</strong>, preventing businesses moving profits abroad

<strong>- Corporation tax</strong> is now 20%

<strong>- There will be no NI payments for employing under 21s</strong>, getting more young people into work

<strong>- Class 2 tax contributions for the self-employed</strong> to be abolished. This will help 5 million self-employed!

<strong>- Traditional tax return to be abolished</strong> - it will all be done digitally, making things easier for small businesses

<strong>- Beer duty is to cut </strong>by a penny a pint; cider duty is cut by 2% and wine duty frozen

<strong>- Personal tax-free allowance</strong> is now £ 10,600: will raise to £10,800 next year, and then to £11,000 the year after

<strong>- Personal savings allowance introduced</strong> – people will be able to save £1,000 without having to pay tax

- <strong>VAT Registration</strong> threshold increased to £ 82,000.

You can find all the numbers here summarised on 2 pages:

[jbutton icon="download" size="xlarge"]Download[/jbutton]

<a href="http://www.numbersbalanced.com/wp-content/uploads/2015/03/Budget2015.pdf">Budget2015</a>

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