The Sunday Times: UK’s Sunak to raise business tax to pay for Covid-19 support | Malay Mail

Sunday, 21 Feb 2021 03:09 PM MYT

According to the report, at least 1 pence is set to be added to the bill for business from this autumn, at a cost to business of £3 billion, with further rises in subsequent years.These measures will be helpful in paying for an extension to the furlough scheme, VAT cuts and business support loans until at least August.

“The corporation tax hike will be higher than expected and the extension of the support schemes will be longer than most people expect,” the newspaper quoted a source as saying.

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