| Years to 31.3.12 | Years to 31.3.11 | |||
|---|---|---|---|---|
| Profits band £ |
Rate % |
Profits band £ |
Rate % |
|
| Small profits rate | 0 - 300,000 | 20* | 0 - 300,000 | 21* |
| Marginal (small profits) rate | 300,001 - 1,500,000 | 27.5* | 300,001 - 1,500,000 | 29.75* |
| Main rate | Over 1,500,000 | 26* | Over 1,500,000 | 28* |
| Standard fraction | 3/200* | 7/400* | ||
The profits limits are reduced for accounting periods of less than 12 months and for a company with associated companies.
*Different rates apply for ring-fenced (broadly oil industry) profit.
The amount of money put into ISAs has fallen for the first time ever. The total amount of new subscriptions into ISAs in 2011-12 dropped to £53.5billion, down from £53.
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The number of businesses that have requested a National Insurance Contribution holiday plummeted to a new low of 400 in December 2012, down 44% from the 710 applications made in the same month the year before. This is the lowest take up of the scheme since January 2011 – just after the scheme launched – and less than a fifth of the 2,235 applications received at the scheme’s peak in October 2011.
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Our newsletter for SMEs gives a run-down of the latest tax, payroll, HR and general business news for small and medium-sized businesses.
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This issue of our academy schools update brings you the most recent developments for academy schools, in particular an update on payroll for schools, P11Ds and dispensations.Download this latest update for more information.
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The value of mergers and acquisitions targeting private companies has increased 50% in one year, up by £6.1 billion to £18.2 billion.
Businesses are losing out as HMRC’s internal VAT decision review process appears to be making decisions increasingly in HMRC’s favour,
George Osborne presented his Budget on Wednesday 20 March 2013 and there were few surprises. Amongst the detail there were some announcements which affect the charity and not-for-profit sector, and these have generally been warmly received by sector leaders.
Our Sittingbourne rural and agriculture specialists will be exhibiting at Kent AgriExpo on Wednesday 6 March.
Dundee and Aberdeen saw the UK’s biggest booms in household disposable income – the money a household has left to spend or save after taxes and mortgages or rent – over the last five years, according to our latest research.
