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UK business to pay £4 billion in extra tax
Businesses face a tax hike of more than £4 billion over the next three years as a result of measures that came into effect at the start of the new financial year on 6 April. According to an analysis of Treasury figures by the Confederation of British Industry (CBI) businesses will pay an extra £1.84 billion in tax this year, £1.24 billion in 2009/10 and £1.3 billion in 2010/11. The majority comes due to the loss of plant and machinery investment allowance and the abolition of empty property relief.
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2008-04-23
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