Following the Chancellor, George Osbourne's last Budget of this Parliament on Wednesday 18 March 2015, the following tax changes have come into effect starting today:
- The business rates multiplier has increased from 48.2p to 49.3p (47.1p to 48.0p for small business multiplier). This includes the 2% inflation cap
- The Small Business Rate Relief scheme has doubled for a further year - providing 100% relief for businesses with a single property with a rateable value of less than £6,000, and tapered relief with a rateable value of £6,000 - £12,000
Remember to download our print-friendly PDFs of our 2015 Budget summary and 2015/16 Tax Rate Card. Written in plain English, the summary offers informative comments to help you assess the likely effect that the proposed changes may have on you, your family and your business for the year to come.