New tax-beneficial business zones launched

THE LATEST tranche of zones in England to benefit from lower taxes and less red tape to encourage business growth have been announced.

The enterprise zones, launched by the government in the March Budget, includes sites in Cornwall, Gosport, Hereford, Kent, Oxfordshire and Warrington. The government had announced there would be 21 zones in total.

Companies will benefit from a business rate discount worth up to £275,000 over a five-year period. Rates collected will be reinvested within those areas.

Planning rules will also be eased within the areas, while super-fast broadband will be rolled out.

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