§ 33. Mr. Simon ThomasTo ask the Chancellor of the Exchequer if he will list the measures in his Budget which will benefit small businesses in Ceredigion. [154632]
§ Mr. TimmsIn the Budget the Government announced further assistance for small and medium-sized enterprises which will benefit small businesses in Ceredigion and across the UK
reduction in the tax compliance costs for small companies: the Government are consulting on radical proposals to allow small companies to follow their own accounts for tax purposes;consultation on further measures to help small firms manage their entry into the VAT system. reducing compliance costs and easing cash flow constraints;an expansion of the Enterprise Management Incentive scheme to help small businesses recruit and retain key personnel through tax-advantaged option awards;improved incentives for employee share ownership, by widening access to the more generous business assets Capital Gains Tax taper relief;improvement of the Enterprise Investment Scheme and Venture Capital Trusts to boost the supply of equity finance;consultation on proposals for a community investment tax credit;action to help small firms improve their "investment readiness".These build on the substantial tax and spending measures announced in previous Budgets that are aimed at making the UK one of then most competitive environments in the world for small firms to start and grow.