Budget is good news
SMALL business owners across Bucks have received a welcome summer break in the Budget, according to a local specialist.
Andrew Twynam who runs Tax Assist Accountants in Chesham said that the Budget delivered some muchneeded good news for local businesses.
He said: “The new compulsory living wage could impact on many small business, particularly at start-up stage, but this is offset by an increase in their Employment Allowance from £2,000 to £3,000 a year, which is welcome news. However, sole director companies are set to lose this benefit next year. At a time when many business owners are starting to consider vital investment for growth, setting the annual investment allowance at £200,000 will also be welcomed, as is the reduction in corporation tax to 19 per cent in 2017 and 18 per cent by 2020.”