Spalding chartered accountants Duncan and Toplis say there were “a few positives” in the Budget on business rates but also disappointments for entrepreneurs and single-director businesses.
Alistair Main, an associate director at the firm’s Spalding office, said: “This Budget was not one particularly full of surprises. As many predicted, not much was revealed of major concern but there were a few positives scattered in there.
“One was the business rates relief for pubs that has been announced.
“Publicans and landlords have been hit hard in previous budgets so that will be encouraging, particularly for our rural pubs which add to the visitor economy and the sense of community in South Holland. The hint at a fund that will go towards alleviating the impact of the potential business rate rise was also interesting, but we will look forward to what form that takes and who will benefit in the future.
“The only disappointments have been for entrepreneurs and single-director businesses.
“The reduced cap on dividend allowance to just £2,000 is a drawback but it shouldn’t put people off starting their own business as there is support out there in other forms.”