Reeves told to scrap business rates for new profit tax in Budget

Reeves told to scrap business rates for new profit tax in Budget

A City accountancy firm has called on Chancellor Rachel Reeves to scrap business rates in her Autumn Budget and replace them with a new profit tax. Lubbock Fine said business rates, which have been the topic of much lobbying in recent weeks, should make way for a variable local tax on profits. The firm said its suggestion would effectively be a local corporation tax and be based on how much profit a business makes in each region of the UK. Lubbo…