Tax increase to hit small brokers
Chancellor of the Exchequer Gordon Brown provided bad news for small brokers, as those making less t...
Chancellor of the Exchequer Gordon Brown provided bad news for small brokers, as those making less than £300,000 profit will see their tax increasing to 22% by 1 April 2009. From 1 April this year it will rise to 20% from 19%, on 1 April 2008 it will increase to 21%.
For those companies making between £300,000 and £1.5m, the tax rate on profits above £300,000 will be reduced from 32.75% to 32.5% from April this year, to 29.75% from April 2008, and to 29.5% in April 2009.
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