Tuesday, 2 December, 2003
David Ruffley MP has written to his local Chambers of Commerce about a new stealth tax which could hurt many businesses in Bury St Edmunds, Stowmarket and Needham Market.
As of 1 December, Stamp Duty Land Tax (SDLT) will create big increases in tax bills for may local shops, public houses, restaurants and bars.
SDLT hits longer leases hardest, and most high street firms need longer leases to recoup their fitting out costs. A typical will see its tax bill rise from £600 to £6000, according to the British Beer and Pub Association.