Interesting debates are developing in the media about the level of tax avoidance which is acceptable. On the one hand we're all tax avoiders to some degree, whereas others claim they don't avoid any tax. Here's my definition of the unacceptable end. If you can say YES to ANY of these questions, you might be an 'unacceptable' tax avoider!
Today's Autumn Statement was more of a mini Budget than usual. Presumably due to the recent pressure being applied by the opposition.
The good news for businesses is that taking on an under 21 year old won't cost you any national insurance, but only from April 2015. In the meantime, if you can't wait, you can employ anyone on up about £22k (or more than one person on lower salaries) from April 2014, and, under a previously announced measure, this won't cost you any national insurance either. Both rules will continue into April 2015, so you could arrange your workforce to cost you no national insurance at all.
It has at last been recognised that small retailers need help in competing against the Internet. Potentially, the most valuable relief is a 50% reduction in rates when re-occupying an empty property. Being able to pay rates in monthly instalments may also be helpful for some.
When there was a window tax paid according to the number of windows in a building, property owners blocked out some windows with the sole purpose of paying less tax.
Was this tax avoidance? Yes
Was this illegal? No
Necessarily a muted Budget, as the Chancellor had little room for manoeuvre, but there were a couple of surprises to keep us interested!
National Insurance £2,000 Credit - from April 2014
Giving a £2,000 credit from April 2014 against employer's national insurance is a welcome initiative which may encourage small businesses to take on some staff.