Do you know about the new tax affecting business owners?

tax increase 3d silver badge with blue ribbonThe Chancellor, George Osborne, delivered his first Budget a few weeks after the General Election and since then most of the attention has focused on the cuts to Tax Credits. Unfortunately, this has meant a new tax, which will affect many small business owners, as well as well as investors, has passed by almost unnoticed. What’s changing? Leading up to the election the Chancellor committed to not increasing National Insurance or Income Tax during the next Parliament. This left him with few revenue raising options, which ...