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A business accountant has cautiously welcomed tax cuts for businesses outlinedin the latest budget, which the chancellor George Osborne said will helpkick-start the UK economy.Peter Lashmar, who writes his own tax newsletter through his accountancy firmin Lymington, Hampshire, said he hoped the initiatives would lead to new andsteady growth soon.As a business accountant it is very unfortunate when you see clients losingtheir livelihoods because of the poor performance by the UK economy. He said.The state of my business acts as a fairly accurate barometer for the level ofgrowth in the UK, so were keeping our fingers crossed. He added.Business accountants watched closely as the chancellor announced he wasslashing rates of corporation tax by a whole five per cent over three years,with the small profits rate reduced to twenty per cent. Capital gains tax changes will see theannual exemption amount increasing to £10,600 from 2011.In addition, the lifetime limit on gains qualifying for entrepreneurs relief willdouble to ten million pounds from 2011 as well.The chancellor delivered his budget for 2011 in the House of Commons in Marchto a mixed response from MPs.Labour frontbenchers challenged Mr. Osborne over the disappointing growthfigures, which saw the UK slip back into negative growth ratings in the finalquarter of last year.However, he claimed that his measures to stimulate growth would put fuel in thetank of the British economy, a recurring theme in a budget, which culminated inhim cutting the price of petrol by a penny per litre. Only time will tell whether thesechanges boost growth in the economy by making it easier to set up and run abusiness. Peter Lashmar said.As business accountants we definitely hope that this will be the case. Headded. Checkout Hampshire business accountant,Lashmars.
Cautious,welcome,for,2011,budg