Hammond To Axe Staircase Tax
Thanks to the campaigning efforts of The Sun and the Federation of Small Businesses (FSB), the Chancellor of Exchequer, Richard Hammond, has agreed to “look into” scrapping the hated ‘staircase tax’ which is hurting small businesses.
Back in August an extra tax was smacked on businesses who operate across different floors within a multi-use building. It has lead to over 80,000 firms seeing higher bills, which is particularly crippling for the smaller businesses of the UK.
The Chancellor has since hinted that he wants to scrap the tax after such an outcry from businesses.
The FSB has hailed this move as a “victory for common sense” and knows it will be a welcome relief to affected firms. FSB boss Mike Cherry remains skeptical of the Chancellor’s efforts however, and awaits the release of the new Budget next week.
The Valuation Office Agency (VOA) conducted research into the ‘staircase tax’, and admitted there was “no transitional relief scheme” available for businesses affected by the unfair levy.
The VOA released their figures in a letter to treasury committee chair Nicky Morgan, who subsequently launched an investigation.
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