| The Companies Act 2006
From October 2008 all new UK companies will require a "natural person" to be appointed as director. This person must be 16 years of age or older.
Limited Liability Partnerships are unaffected and are not required to use natural persons.
March 2007 Budget
Corporation Tax was increased slightly as follows
Tax rates for the year ending March 2007 have been simplified slightly by the removal of the Nil band as follows:
| Profits |
Tax Rate |
| First £300,000 |
19% |
| Next £1,200,000 |
32.75% |
| Over £1,500,000 |
30% |
Tax rates for the year ending March 2008 have been adjusted slightly as follows:
| Profits |
Tax Rate |
| First £300,000 |
20% |
| Next £1,200,000 |
32.5% |
| Over £1,500,000 |
30% | |
