Here’s the reaction from Phil Pinder, chair of the York Retail Forum.
“It’s great to see the business rates discount continue until June, with a further discount for a further 9 months.
“It’s less good news on the VAT threshold staying the same for five years – this will bring thousands of more small businesses into the scheme with an extra burden and red tape that VAT brings.
“The 5% reduced rate of VAT for tourism and hospitality will be extended for six months to the end of September.
“Great news on the return of a small business rates for corporation tax, with one larger business paying the new 25% rate from 2023.”