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McIntyre Hudson calls for relief for small businesses in pre-Budget report

Chartered accountants McIntyre Hudson is urging the Chancellor to introduce a series of tax breaks for small businesses in the pre-Budget Report.

The firm is calling for the cancellation of planned increases in small companies’ rate of corporation tax.

McIntyre Hudson also argues that the ability for companies to carry back losses to be offset against past profits should be extended up to three years.

The firm says the Enterprise Management Incentive Scheme should be extended to cover all trading companies.

It suggests tax relief on loans to finance small businesses should be extended.

McIntyre Hudson also calls for the removal of the ban on residential property being included in pension schemes.

It calls for the introduction of income tax relief for losses on rental businesses.

Tax principal Nigel May says: “Alistair Darling should focus on carefully targeted measures which will help businesses work through the recession.

“Critical to this is supporting the cashflow of businesses which have been successful in good times but which are now struggling.”

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