Business tax

The CBI has called on the government not to consider axing the research and development tax credit scheme as a way of saving money.

A small business group has urged that firms be given a say on how the money raised through proposed changes to business rates will be spent.

Employers are being advised that, as from 26 January, HM Revenue and Customs is sending out penalty notices to those firms that have yet to file their 2007/08 employer’s annual return.

Providing small businesses with automatic rate relief is not a practical option, the government has said.

HM Revenue and Customs has announced that, as from 27 January, the rate of interest to be paid on money owing to taxpayers falls to 0 per cent.

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