The grant will, in effect, reduce the amount of VAT paid on restoration work from 17.5% to 5%, and will apply to buildings in both rural and urban areas. It is expected to cost the government between Pounds 35m to Pounds 40m annually.
Introducing the grant, the chancellor said churches were ‘essential centres for civic life’ at the heart of ‘Britian’s rich heritage as a nation’, and the purpose of the grant was to save this heritage.
In another measure aimed at the community, Brown said his administration would consider the best way for the tax system to aid ‘thousands of non-profit sports clubs’ and to ‘recognise their contribution to community life’.
Richard Le Tocq, head of Locate Guernsey, discusses the chancellor’s approach to high net worth individuals, and why relocation is increasingly attractive to HNWIs
The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals