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Proceeding contribution from Mark Hoban (Conservative) in the House of Commons on Monday, 30 April 2007. It occurred during Debate on bill and Committee of the Whole House (HC) on Finance Bill.

Finance Bill

That assumes that small businesses take up the allowances and reliefs that are available. The Chief Secretary was careful in his choice of words, because all small businesses can claim the increase in allowances, regardless of whether they are incorporated. The average benefit from the increase in allowances is approximately £68 per small business. Small companies will pay on average £1,000 more in corporation tax, but the group of 4.3 million will gain only about £60 a year. That is not a fair deal for small companies. The benefit is being spread rather thinly.

Secondary information

Type
Proceeding contribution
Reference
459 c1249 
Session
2006-07
Chamber / Committee
House of Commons chamber
Subjects
Accountancy Debts Corporation tax Capital allowances Casinos Gambling Investment Excise duties Employment agencies Gaming Internet Partnerships Welfare tax credits Small businesses Tax allowances Taxation Research Tax rates and bands Self-employed Managed service companies Off-payroll working
Legislation
Finance Bill 2006-07
Link
View this Proceeding contribution on www.publications.parliament.uk