Budget 2021: Corporation tax up, but business rates frozen – what it means for tyre businesses
The Covid-19 pandemic may have caused the biggest financial crisis of a generation as well as record spending and borrowing levels, but economic highlights aren’t as bad as was expected and UK Chancellor of the Exchequer Rishi Sunak isn’t raising taxes as fast as feared. Here, Tyres & Accessories takes a look at the main points pertaining to the tyre business and specifically: the furlough extension, the corporation tax increase, continued business rates holiday, and the introduction of freeports.