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EDITORIAL How retailers from WHSmith and Watches of Switzerland to Lands End are planning for the future - Views
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Business has been placed at the heart of today s Budget and the Chancellor has announced a number of sweeping changes to try and bolster jobs and investment up and down the country.
Among a string of big-ticket announcements, we now know there s a surprise new super deduction plan on the way, corporation tax is going up and freeports are coming in eight new locations.
For ordinary people, there s a lot of jargon and pretty complex ideas and concepts to get to grips with, so here, we outline what all this means for businesses, the people that work in them and the taxman, otherwise known as HM Revenue & Customs.
The US tech giant took significant amounts of warehouse space last year amid the ecommerce boom
3 March 2021 • 8:00pm
Amazon looks set to emerge as a key beneficiary of Britain s new tax super-deduction thanks to a major ramping up of its UK warehouse footprint, even as the Government wrangles with how to get Big Tech to pay more tax.
The latest tax measure, announced on Wednesday, will allow companies investing in new plant and machinery assets to deduct 130pc of that investment from their taxable income for the next two years.
This means they would be able to cut their tax bill by up to 25p for every £1 that they invest. It is expected to include investments that companies make on fitting out warehouses.