Tax simplification and better infrastructure for the UK are top of the list of small business demands ahead of the Autumn Statement.
In its submission to chancellor George Osborne, the Federation of Small Businesses (FSB) has called for an extension to business rate relief which is due to finish in March. It also wants changes to the process of valuing property and appeals which it describes as “overly bureaucratic”.
Sometimes referred to as a ‘mini-Budget’ the Autumn Statement is an increasingly important event in the business calendar. In it, the government sets out tax and spending priorities for the next six months.
This will be last Autumn Statement ahead of the general election in May 2015. Pressure groups are lining up to request special treatment from the chancellor, who they know will be under pressure to deliver vote-winning measures.
The FSB is also calling for simpler taxes to reduce the cost to businesses of complying with legislation. Research by the FSB shows that more than three-quarters of small businesses pay 3,500 or more per year on tax-related paperwork.
Three fifths said the UK tax system has a negative impact on their ability to recruit and grow.
John Allan, national chairman of the FSB, said: “Businesses will be looking for measures to ease the cost of business rates, and a commitment to fundamental reform of the current, outdated system.
“To support business growth and reduce costs, further efforts to simplify our complex tax system should also form a central part of the Autumn Statement."More on this story