Tax cuts welcomed by rural businesses
Rural businesses will welcome today’s decision to abolish the fuel duty escalator and cut the employers’ national insurance contribution, according to industry experts.
Rural businesses will welcome today’s decision to abolish the fuel duty escalator and cut the employers’ national insurance contribution, according to industry experts.
The cuts, announced by Chancellor George Osborne in his 2013 Budget this afternoon, will see the planned 3% fuel tax rise in September cancelled.
Employers’ national insurance will be reduced by an equivalent of £2,000 per employee, meaning a number of smaller rural businesses will pay no national insurance at all.
The decision will come as a welcome boost for many farmers and rural businesses that have seen costs rise in almost every other area.
Nigel Parsons, MD of rural business accounts specialist Landmark Systems, said: “Our clients have watched their overheads in almost every area rise significantly in the last 12 months and that has put enormous pressure on countryside businesses.
“These tax adjustments will provide a welcome glimmer of hope in an otherwise difficult financial climate.”
Further details at www.landmarksystems.co.uk
