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Autumn Budget 2018
Other measures Voluntary tax returns
Legislation will be introduced in Finance Bill 2018/19 with retrospective and prospective effect to put HMRC’s longstanding practice of accepting voluntary tax returns onto a statutory basis.
These voluntary returns will be put on an equal footing with returns delivered under a formal notice to file and apply to income tax, capital gains tax and corporation tax returns. Business rates relief Retail properties with a rateable value below £51,000 will see their business rates bills cut by a third for two years from April 2019, subject to state aid limits. Gift Aid Small Donations Scheme (GASDS) Currently the GASDS only applies to donations of £20 or less made by individuals in cash or by contactless payment. This limit will increase to £30. Parliamentary timetable permitting, this will become effective from 6 April 2019.
What they said...
‘What we've heard … are half measures and quick fixes while austerity grinds on.' Jeremy Corbyn, leader of the Labour Party
‘In an atmosphere of unprecedented uncertainty and heightened political noise, the Chancellor has demonstrated that he is listening to business concerns by delivering a Budget that supports investment and growth.’ Dr Adam Marshall, Director General of the British Chambers of Commerce
‘Through the Budget, the Chancellor is now using the strength of the Treasury to back small business.’ Mike Cherry, National Chairman of the Federation of Small Businesses
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