According to Bloomberg, one of the worst laws working against small businesses operating in the UK may be removed soon as U.K. Communities Secretary Sajid Javid proposed a draft law to reverse the so-called staircase tax. For those unaware the staircase tax was created from a 2015 court ruling altering a small business’ tax rate for firms operating out of two rooms in a single building. “Where previously they had paid a single bill, they now faced two or more charges.”
“Javid published a consultation on Friday that would reverse the change. Under the proposals Javid would give companies the chance of having their rates bills recalculated, entitling them to backdated refunds. The consultation runs until Feb. 23.”
It’s good to see the UK move forward from this terrible law and allow small businesses to worry less about double taxation while staying in one building. Taxes should never be overly complex in a situation like this and this is definitely a win for small corporations especially.