Mini Budget 22: Tax cuts to benefit 'investment zones'

Revealed as part of Chancellor Kwasi Kwarteng's Mini Budget, 38 local authorities are currently in discussion to establish investment zones in England, with plans to expand these across Scotland, Wales and Northern Ireland. Businesses in the designated sites will benefit from a raft of tax incentives, while construction will receive fast track planning applications. Over the course of ten years, businesses will pay no business rates on newly occupied premises and will pay no National Insurance on the first £50,270 of a new employee's annual salary, provided they work in the site for a...