Business121 Small Business Newsletter #96

In this week's Business121:

1. Government may make concessions in taper relief abolition
2. Capital Allowances - A small business guide
3. Bytestart's Guide to Business Rates
4. Trade Marks - The Basics
5. A Guide to Intellectual Property (IP) and your business
6. Web Conferencing - How to engage an audience

Small Business News
7. 'Wealth of Nations' voted best business book of all-time
8. Companies Act Guide released for company directors
9. New businesses need a single tax code to avoid registration confusion
10. £500,000 bill for "Husband and Wife" tax case
11. Successful entrepreneurs more likely to take risks
12. Small business 'dismayed' at supermarket probe
13. Number of UK home-based businesses soars

Government may make concessions in taper relief abolition

It seems that the Government will make some form of concession to the proposal made in this month's Pre-Budget Report to abolish CGT taper relief.

The Times and Telegraph report that after fierce lobbying by small business groups the Government will revive the "relief fund".

Under the old retirement relief fund, which was phased out in the 1998 CGT tax changes, business owners selling a business would receive the first £250,000 of capital gains free of CGT. Capital gains over £250,000 were subject to capital gains tax at 40%.

The Chancellor hasn't confirmed the reports but Treasury sources are indicating that the threshold for the new 'relief fund' would be "tens of thousands"!! This completely misses the mark and I hope all the business groups continue to push the case to retain taper relief for business assets.

You can read more about the possible relief fund and you can also access a selection of articles and guides on the CGT changes and other 2007 Pre-Budget Report proposals in our dedicated 'Budget 2007' section.

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Capital Allowances - A small business guide
When you buy certain new equipment, invest in buildings or research and development, you can deduct a proportion of the cost from your taxable profits and reduce your corporation tax bill. Here's a small business guide to capital allowances.

Bytestart's Guide to Business Rates
Just as you have to pay council tax on your home, so your business must cough up business rates for its premises. Astonishingly, you may even have to pay business rates if you work from home. This guide will help you understand what business rates you might have to pay, how to challenge the rates set, and even if you can claim any business rates relief.

Trade Marks - The Basics
Here's a comprehensive guide to trade marks. Find out how are trade marks protected, why you should register a trade mark, and how to apply for one.

A Guide to Intellectual Property (IP) and your business
Intellectual property (IP) is something often talked about but difficult to define. Many owner-managers can place a value on their business dependent on turnover but IP is the value of the business that you sometimes can't physically touch, e.g. the name, trademarks and copyrights. Intellectual property rights can become valuable assets for your business so here's a guide to IP and how to protect yours.

Web Conferencing - How to engage an audience
Communicating virtually offers cost savings as well as offering significant improvements in worker productivity and efficiency. Here are some tips to help you to engage with your audience when you're using a web conference.

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SMALL BUSINESS NEWS
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'Wealth of Nations' voted best business book of all-time
The Financial Times has unveiled the results of an online poll of readers to find the best business book of all-time. The winner, 'The Wealth of Nations' was published back in 1776 when the concepts of 'free trade' and 'competition' were barely understood.

Companies Act Guide released for company directors
A new guide to help company directors implement their environmental and social obligations under The Companies Act has been launched this week.

New businesses need a single tax code to avoid registration confusion
The Public Affairs Committee has slammed HMRC for its "badgering" of small business people. A single business tax code would make things a lot easier during the tax registration process.

£500,000 bill for "Husband and Wife" tax case
Taxpayers are facing a £500k bill after the taxman failed in its quest to pursue a family business through the courts over a disputed £7,000 tax bill.

Successful entrepreneurs more likely to take risks
A new report suggests that the wealthier entrepreneurs are, the higher their appetite for risk during the all-important wealth creation phase.

Small business 'dismayed' at supermarket probe
Small businesses accuse the Competition Commission of letting them down for a third time after a report found UK supermarkets not guilty of bullying small shops and suppliers, restricting competition and limiting choice for consumers, reports The Times.

Number of UK home-based businesses soars
A comprehensive new report on home businesses shows that 2.1 million small businesses in the UK, are now based at home and over 60% of new businesses are now started from home. The striking increase in the number of people working from home can probably be explained by a number of factors, particularly the availability of new technology.

** For the latest Small Business News, visit http://www.Bytestart.co.uk **

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