Business news

Last December’s reduction in VAT from 17.5 per cent to 15 per cent has had a measurable effect on consumer spending, a think tank has claimed.

The Chancellor should use the Budget to provide small firms with greater scope for offsetting profits against money spent on equipment.

The Federation of Small Businesses (FSB) has called on the government to make the rates relief to which small firms are entitled automatic.

The draft of the taxpayers’ charter, which sets out the rights and responsibilities of HM Revenue and Customs (HMRC) and taxpayers, has been described as “inadequate”.

More needs to be done by the government to help smaller employers hold on to their staff during the recession.

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