Login Register

Small businesses could benefit from new £1,000 tax discount

By e_glanfield  |  Posted: January 29, 2014

stacked
Comments (3)

Independent retailers and local shops could benefit from a two-year annual £1,000 tax discount, a government minister announced today.

High Street minister Brandon Lewis said 300,000 local retailers across the country could benefit from the discount, which was announced as part of the government’s long-term economic plan.

Retail premises, which are occupied, have a rateable value below £50,000, could be eligible for a £1,000 discount in 2014/15 and 2015/16.

High Street minister Brandon Lewis said the government was backing small businesses and town centres to help build a “stronger economy”.

Related content

He said: “By giving retail shops in the South West a new £1,000 tax discount in their next business rate bill we will make a huge difference to many of the essential small shops and local traders we find in our town centres across the country.

“This is just one part of our £1bn support package that also includes sensible changes to overzealous parking rules and planning rules that will keep high streets at the heart of communities for decades to come.”

Councils should now automatically include the discount in the business rate bills they are sending out shortly so all eligible businesses receive their centrally funded tax break. Businesses specifically excluded from the tax discount include payday lenders, betting shops and pawn brokers.

Do you think the government is doing enough to help small businesses? Let us know by commenting in the box below.

Read more from North Devon Journal

Do you have something to say? Leave your comment here...

max 4000 characters

3 comments

  • Kimhenry  |  May 05 2014, 12:02PM

    New business is a great opportunity to generate cash flow which will develop and bring new unit of society. This also creates many work places which is very good. Financing of new projects is other essential part and this http://tinyurl.com/pzgg7ax is going to help a lot.

    Rate 0
    Report
  • Kimhenry  |  March 31 2014, 1:22PM

    Running a business is not an easy thing as you need to be able to compete at the market and not to go broke under the pressure of the government. Having a tax discount will really help many businesses to prosper. http://tinyurl.com/pzgg7ax is also a good option to give an impulse to your business development.

    Rate 0
    Report
  • GuadalupeMWoo  |  January 30 2014, 3:34AM

    until I saw the paycheck of USA Dollars----4337 , I didnt believe ...that...my neighbour realy earning money in their spare time on-line. . there aunt had bean doing this for less than 17 months and recently took care of the loans on their mini mansion and got Lotus Esprit . check this site out -=-=-=-=-=-=-=-=-=-=-=-=-=-=--=-=-=WWW.TEℭ30.ℂℴM

    Rate 0
    Report

      YOUR COMMENTS AWAITING MODERATION

       
       

      MORE NEWS HEADLINES