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Local business tax deferred by Darling
31/03/2009
In a move that was largely welcomed by business groups today, Alistair Darling announced that local business taxes would only rise by 2% in April, rather than the planned 5%.
The government is attempting to make life a little easier for owners and managers of businesses struggling through the recession. The balance of the 3% rise would be spread over the next two years.
A significant factor in Mr Darling's decision is that inflation has dropped significantly over the past six months.
He said, "I want to bring forward a measure that will help businesses, so I can tell the House that businesses need pay only 2 percent of the annual increase this year and they can pay the remaining 3 percent smoothed out over the following two years".
The government is attempting to make life a little easier for owners and managers of businesses struggling through the recession. The balance of the 3% rise would be spread over the next two years.
A significant factor in Mr Darling's decision is that inflation has dropped significantly over the past six months.
He said, "I want to bring forward a measure that will help businesses, so I can tell the House that businesses need pay only 2 percent of the annual increase this year and they can pay the remaining 3 percent smoothed out over the following two years".