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

For further information please contact Tilly Parke: tilly.parke@pwc.com / 020 7804 8761.