Small and medium enterprises (SMEs) want a dull Budget free from headline grabbing initiatives that could jeopardise stability, according to a tax partner at KPMG.

The accountancy firm’s enterprise tax partner Samantha Vanags says George Osborne should focus on “simplifying and improving” in next week’s Budget.

The chancellor will deliver his final Budget before the general election in May. It is an opportunity to announce vote-grabbing measures, but analysts expect a fairly muted statement this year.

In December, Osborne introduced high-profile goodies in his Autumn Statement, including a restructuring of stamp duty on property transactions, which makes moving home cheaper for most people.

From a business point of view, options on the table this time round include extending tax relief on capital investment, simplifying the system of research and development tax credits, and reducing UK tax legislation generally.

It is said the UK has the world’s most extensive tax law. Red tape is a perennial gripe among small businesses and any measure to reduce it is sure to be welcomed.

Commenting on the business Budget wishlist, Bivek Sharma at KPMG Enterprise’s Small Business Accounting Services added: “We are seeing a maze of funding options that entrepreneurs must navigate in order to access much needed finance in the right form for their business.

“It’s too much of an uphill battle for a busy entrepreneur to track down and secure the best initiative for helping to boost their business. Any simplification of the process of accessing alternative finance will be well received by those running small companies.

“Cashflow remains a critical matter to the economy’s smallest and therefore most vulnerable, enterprises so any support that can be offered in relation to ensuring they don’t suffer due to late payment will not only be welcomed but could mean higher survival rates.

“Finally further incentives for employment growth will be a positive boost to this dynamic part of the market. So many small business owners teeter on the edge of becoming an employer or adding to their employee numbers but hold back, due to the risk of committing to such a responsibility, fixed cost and administrative burden.”