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Flat tax rate could be a mixed blessing |   |
As somesmall business owners in the UK complete their tax returns this month, they will be envious to hear that their German and Spanish counterparts could soon be free of the irksome task, according to a very interesting article in The Times today.
"Spain and Germany are debating the benefits of a “flat tax” — already adopted in many former communist states — under which all personal income and corporate taxes are rolled into one base tax. All exemptions, apart from a large personal allowance, are also abolished.
A flat tax system, while simpler to administer and easier to understand, could be a mixed blessing for the UK. It would cut the cost for small businesses of complying with the Treasury’s tax regime, but entrepreneurs could pay more tax depending on the rate at which it is set."
You can read the entire article here.
Posted September 1, 2005
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[November 13, 2008] Small business entrepreneurs in the UK are chalking up more than half a billion man hours worth £1,046 billion to the UK economy every year, a study conducted for business insurer Hiscox reveals.
[November 12, 2008] Viewers of the Dragons' Den will have strong views about the panellists who dish out advice to would-be entrepreneurs. In the spirit of fun, here are the biographies of the Dragons - done in the style of Top Trumps.
[November 6, 2008] At midday, the Bank of England surprised even the optimists by slashing interest rates by 1.5 percentage points. The base rate now stands at 3%, the lowest for over fifty years, raising hopes that small businesses may receive some much needed relief.
[November 5, 2008] Tony Robinson OBE and founder of SFED, tells Bytestart readers how the Government can help small businesses through the credit crunch.
[October 31, 2008] With the economic downturn now firmly upon us, research from the leading employment law firm in the UK suggests that the vast majority of employers are planning to ditch their Christmas party to save costs.
[October 31, 2008] A 28 year old zoologist has scooped the 2008 Young Rural Entrepreneur of the Year award following the success of his micro-brewery business in Northumberland.
[October 22, 2008] The Government has announced a £350m "productivity training" package to help small companies - but no real help from the twin burdens of taxation and regulations that we really need.
[October 15, 2008] According to an entrepreneur think tank, business owners need the government to adopt more business-friendly policies to help them remain competitive. 26% of those polled are considering setting up shop overseas.
[October 14, 2008] If your business isn't doing as well as it should be - and you'd like to get some advice from a hugely experienced businessman to help you to get things back on track you might want to consider applying to feature in a new TV series.
[October 10, 2008] A business organisation has warned that spiralling costs and a lack of credit is forcing some small companies to consider making staff redundant in order to survive the downturn.
[October 9, 2008] The latest quarterly survey released by the BCC, based on 5000 business responses, shows that the UK is now in a worsening recession. The IMF expects the country to suffer a downturn similar to that of the early 1990's.
[October 6, 2008] Despite 12 months of economic turmoil, the latest UK Enterprise Survey Report shows that UK companies are determined to survive, and remain optimistic about the future.
[October 3, 2008] A survey of company directors has revealed that more and more of them are choosing to live outside the capital and the South East, with ‘a gradual migration of company directors from the South of England, to more northerly regions, as well as Scotland and Wales’.
[September 30, 2008] With the Tory conference in full swing, what exactly do the Conservatives propose to do to help UK businesses?
[September 29, 2008] The vast majority of entrepreneurs in the UK are risking long-term business success by not giving proper thought to their exit strategies, according to business advisory firm, Deloitte.
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