Urban regeneration got a shot in the arm in the March Budget, with a plan to make the first stages of buying property and bringing land back into use tax-free.
And, in an effort to kick-start investment from business, Chancellor Gordon Brown announced that Stamp Duty will be abolished in designated areas.
Other measures include cutting VAT on residential property conversions from 17.5 to five per cent, and the government will introduce accelerated tax relief at 150 per cent for cleaning up contaminated land.
On the employment side, the National Minimum Wage is to go up in October from £3.70 to £4.10 an hour, and next year to £4.20.
There is also a freeze on all rates of car vehicle excise duty. The £55 reduction on the standard licence fee for cars up to 1,200cc is extended to cars up to and including 1.5 litres, and this will be backdated to November 2000. From this month, there's a four-band vehicle excise duty for all newly purchased cars, which rewards environmentally-friendly vehicles.
Source
The Facilities Business
