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Business rate U-turn welcomed by businesses

Businesses welcomed the last minute U-turn by Chancellor Alistair Darling in which he deferred a 5 per cent increase in business rates, reducing it to 2 per cent instead.

Darling said businesses would be able to spread payment of the 5 per cent increase over three years, instead of implementing it immediately.

Under existing legislation, business rates are adjusted every April in line with the Retail Prices Index for the previous September.

The new measures are designed to smooth the effects of the spike in inflation of 5 per cent in September, which would have seen businesses facing an impact on their cash flow this year.

Darling said: “The Government recognises that businesses need help now to ease their cash flow at a time when money is very tight. This measure will help businesses to smooth their rates payments over the next three years.”



Investment advisers’ FSCS levies top £96m

Investment advisers are facing a total Financial Services Compensation Scheme levy of up to £96m, following the collapse of stockbrokers Pacific Continental Securities and Square Mile Securities.

Zurich hosts pension review seminars

Zurich is urging advisers to carry out immediate pension reviews in light of the financial downturn rather than waiting for the next scheduled review.

Jon Bennett

Aegon Asset Management director of retail fund sales and marketing Jon Bennett says an inspirational economics teacher set him on the path to financial services.


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