Local Business Owners React to the Pre-Budget Report

We predicted it would be a controversial pre-budget report and it lived up to expectations, with some headline measures that are clearly designed to win over the hearts and minds of Labour’s core supporters. But in spite of this, most observers would agree that overall, it was a pretty good result for Surrey’s business owners.

VAT should be ‘scrapped on green appliances’

VAT should be scrapped on energy-efficient household appliances, the British Retail Consortium (BRC) has said.

In its Pre-Budget submission to the Chancellor, the BRC is calling for the tax to be removed from ‘green’ appliances to help curb carbon emissions and cut fuel bills.

It claims the move, which would cost around £507 million per year in lost VAT receipts, could reduce the UK’s CO 2 output by 1.3 million tonnes each year by 2020.

“Inoculate” your business and save on taxes with key green initiatives

Much continues to be written about green businesses and the importance of corporate social responsibility (CSR). Research has shown its importance for reputation management. A study published in the Journal of Reputation Management showed clearly that firms who had a reputation for “doing good” bounced back much more quickly after an industry crisis compared with their less altruistic counterparts. In effect, their CSR policies had an “inoculating effect”, creating a “reservoir of goodwill” among stakeholders. In addition to the public relations benefits, the right strategy can also deliver a significant financial advantage as this article will highlight with an overview of the different green tax breaks relevant for small to medium sized businesses.