Property agent: hike in national insurance will put pressure on margins

Posted on May 1st, by editor in Caring Times. No Comments

Following Gordon Brown¹s 2002 budget statement James Shorthouse, director of Christie & Co, surveyors, valuers and agents to the care sector, said that overall, the Chancellor had generally provided a package of measures aimed at assisting small and medium size businesses. However, the decision to raise National Insurance contributions and freeze personal allowances would clearly impact on both employers and employees. “The increase in contributions will undoubtedly lead to increased wage demands,” Mr Shorthouse said. “Businesses with high staffing requirements, such as those within the care sector are likely to see increased pressure on margins. “Reductions in the tax regime for small companies, including the lowering of the starting rate of corporation tax from 10 per cent to zero, and a reduction in the small companies rate from 20 per cent to 19 per cent, will however benefit many of the businesses within the sector.” Mr Shorthouse said the decision to abolish stamp duty on all “non residential” property

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