Was the 2012 Budget anti-small business?

The headlines the day after the 2012 Budget focused on the Government’s attacks on pensioners, however the business press has been slowly mulling over the measures introduced and drawing their own conclusions. Although the overall opinion is that the 2012 Budget was “pro-business” – mainly due to an additional 1% cut in the Main Rate of Corporation Tax – it was mostly pro-big-business, with freelancers, contractors and micro-businesses being denied any specific aid. Although the increase in tax-free allowance will provide a welcome boost to tax-free income for the UK’s self-employed, other measures to aid micro-businesses – cash accounting and the merger of NICs and Income Tax – are still in the planning stages. So far the reaction from the UK’s small business leaders has been far from positive. Writing in This Is Money, Huddlebuy director Andy Yates said of the Budget: “Could do (a lot) better.�George, if this was a Budget for business it was only a Budget for big business. This will not make life any easier for those hard working small business owners up and down the country that are really under the cosh.” Kate Craig-Wood, who co-founded web hosting company Memset weighed in on the newly-announced [...]

Source: http://www.freelanceadvisor.co.uk/events/was-the-2012-budget-anti-small-business/

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