
A series of changes to UK tax legislation implemented this month have lowered the amount of taxes payable by British businesses. The Association of Plumbing & Heating Contractors (APHC) believes this will allow installers to reinvest in business expansion and the hiring of more staff.
These changes include increasing action to cut employment costs, taking the smallest businesses out of employer National Insurance contributions (NICs), extending business rates relief ahead of permanent major rates cuts and allowing businesses to take advantage of lower prices at the pumps.
As of 1 April, businesses are benefitting from:
John Thompson, chief executive at APHC, said: "We welcome the news of the new tax breaks, which are set to have positive impact on Britain's businesses. In particular, the doubling of the Small Business Relief Scheme, which comes ahead of further cuts next year, is likely to significantly benefit members of our industry, saving them an average of £890 per annum to be reinvested in expansion and the creation of new jobs."
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