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Chancellor urged to address small business tax concerns

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The Federation of Small Businesses has urged Gordon Brown, the Chancellor of the Exchequer, to address the concerns of small businesses in his Pre-Budget Report, to be delivered on December 5.

The FSB have pressed the Chancellor to create a tax system that is simple and certain, so that small businesses can contribute even more to the health of the UK economy.

The proposals include: a 100 per cent capital allowance on IT; IR35 legislation to be abolished; simplifying HM Revenue & Customs forms; and a review of the inspection regime.

Neil Hamper, FSB Tax Chairman, said: “Small businesses deserve their considerable contribution to the economy to be recognised and for the Government to appreciate the fundamental differences between large and small businesses."

“Clumsy and over-zealous inspections create a climate of fear rather than cooperation and can be counter-productive."

“We encourage Gordon Brown to take this opportunity to simplify and consolidate the tax system, rather than making further amendments to the existing legislation.”

Posted November 30, 2005
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