Business and digital
- New 2% digital services tax on UK revenues of big technology companies, from April 2020
- Profitable companies with global sales of more than £500m will be liable
- Private finance initiative (PFI) contracts to be abolished in future
- New centre of excellence to manage existing deals “in the taxpayer’s interest”
- Annual investment allowance to be increased from £200,000 to £1m for two years
- Contribution of small companies to apprenticeship levy to be reduced from 10% to 5%
- Business rates bill for firms with a rateable value of £51,000 or less to be cut by third over two years
- Measure to benefit 90% of independent companies, cutting bill by £8,000
- £900m in business rates relief for small businesses and £650m to rejuvenate High Streets
- New 100% mandatory business rates relief for all lavatories made available for public use, whether publicly or privately owned
- Extending changes to the way self-employment status is taxed, from the public sector to medium and large private companies, from 2020