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The Federation of Small Businesses this Thursday launches its 6 key principles for the general election. They are calling for the UK to adopt a fresh, ‘bottom up’ approach to tax that recognises the differences between large and small businesses and ultimately simplifies tax for small firms. The organisation wants to see a fair tax system for all – including a ‘level playing field’ for all small business. Members of the FSB were recently asked for their views on the forthcoming election. Not surprisingly, small business owners’ biggest concern was that of tax, particularly ‘draconian’ tax inspections. Entrepreneurs in particular feel they are the subject of close scrutiny, targeted by tax inspectors who appear to believe that the self-employed are “inherently untrustworthy”. The FSB are also calling for an end to IR35 legislation – citing it as an administrative burden for both the Revenue, Customs and small business and resulting in little revenue. Neil Hamper of the FSB says: "Tax cuts will be important at the forthcoming election, but small businesses also want a commitment from politicians to make the taxation regime fairer and less brutal." Politicians are being asked to reduce the burden on business by introducing a number of tax reforms, consisting of: Feb 15, 2005 Email this article Printer friendly page Previous Page
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