Tax break for small retailers
A £415 million cash injection to back business and boost high streets has been announced by Communities Secretary, Eric Pickles.
The funding comprises:
• £300 million to give 300,000 small retail firms £1,000 off their next tax bill
• £100 million to support critical business infrastructure in enterprise zones
• £15 million to establish new university enterprise zones in the eight main UK cities.
Launching the initiative, Mr Pickles commented: “Our fully funded £1,000 retail discount will make a huge difference to 300,000 of the essential small shops and local traders we find in our town centres across the country.”