Firms get double tax break to fight slump

MORE than 7,000 business in Oldham could save £1.6 million of tax by deferring business rates.

Businesses can now apply for the rates-deferral scheme which ministers say will allow companies to defer paying taxes they owe for up to three years to help them in the current financial climate.

Local Government Minister Bob Neill last night wrote to every council urging them to ensure businesses were aware of help available to them.

Ministers say the deferral scheme offers businesses “a much needed tax break making a real difference to running costs”, by helping them to get on top of cash flow and giving time to adjust to inflation changes.
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