The government published the Finance Bill 2013 today, enacting tax measures announced in the 2013 Budget and 2012 Budget.

The Budget 2013 measures include:

increasing the tax-free personal allowance to £10,000 in 2014-15;

introducing an allowance of £2,000 per year for all businesses and charities to be offset against their employer Class 1 secondary NICs liability from April 2014;

introducing powers to allow the Government to change the rules on CASCs through secondary legislation;

introducing legislation for a GAAR to counteract tax advantages arising from abusive tax avoidance schemes; and

cutting the corporation tax rate to 21% next year and 20% in 2015.

Further details on the Bill are available on the parliament website HERE

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