Fleet News

Budget 2008: Small and medium size businesses promised help

Chancellor Alistair Darling has confirmed that he will reduce Corporation Tax 2% to 28% next month.

“This is the best country in the world to do business,” he said.

“We want to do more to support small and medium-sized enterprises.”

Therefore funds for loan guarantees for SMEs has been increased by £60m.

In addition, changes to the Capital Gains Tax system announced in October 2007 will come into force next month.

The Chancellor also announced moves to help small companies manage their tax commitments.

In addition, he is taking steps to allow SMEs to win more public sector business – he wants 30% of this business to go to SMEs.
 

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