Steve Bulley the President of the Dorchester Chamber for Business has welcomed the Chancellors 2016 budget hailing the new £15,000 threshold for small business rate relief, more than double the previous level of £6,000 a huge boost for the town.
He also expressed his delight that the town’s self-employed will soon no longer have to pay class 2 national insurance contributions as it is to be abolished from April 2018.
For many of the town’s workers, the basic rate threshold for paying income tax rising to £11,500 by 2017 is seen as a real boost – taking many of the town’s part time workers out of tax completely.
With a reduction in corporation tax to 17% by April 2020, Steve added that this budget was a ‘good budget for business’.
