Ben Handley, director at PwC, comments on what the Budget means for private business:
“The Budget felt like a bit of a mixed bag for start-up and small entrepreneurial businesses.
“Measures to relieve the cost of business rates, reduction in administration for R&D claims and confirmation of lower corporation tax rates will be welcomed. But the reduction in dividend exemption from £5,000 to £2,000 could increase the cost of withdrawing profits from a business by over £1,000 from 6 April 2018.
“We are also expecting a review of the taxation of partnership and company structures in the summer which may provide a backdrop of uncertainty for those setting out now on a new business venture.”
For full Budget coverage please visit pwc.co.uk/budget
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