UK small businesses think tax system 'is getting worse'

 

Small businesses need a lot of support if they are going to be successful.

 

One issue that firms will frequently have problems with is the tax system, as it can often seem too prohibitive, especially with the economy so uncertain at present.

 

Indeed, research by the Forum of Private Business has found the majority of small firms in the UK do not think the current government has improved the tax system with the changes that have been made.

 

The coalition may be nearing the midpoint of its five-year term, but among the issues that are still causing consternation among employers with regards to tax are fairness, simplicity, efficiency, stability and certainty.

 

Indeed, 28 per cent of respondents think the fairness of the tax system has deteriorated under the control of the coalition, compared to only 17 per cent who believe it has improved.

 

In what will come as a blow to HM Revenue and Customs, 26 per cent of those questioned believe the efficiency of the system has worsened in the last two-and-a-half years, as opposed to ten per cent who can see the green shoots of recovery.

 

Phil Orford, chief executive of the body, said: “It’s probably fair to say that business rates are the most despised of all commercial taxes by today’s small business owner in the UK. It’s a crippling tax that business owners simply have no choice but to pay and for many who claim to see no discernible benefit to having paid up, it clearly sticks in their craw.”

 

While it stands to reason that businesses have to pay their way – especially for services such as bin collections and road maintenance – too many are now of the view that their money is not being spent wisely by the government.

 

This highlights how important an issue it is for companies and so those in power should be looking to take action over this issue, or else they will end up with a lot of disgruntled small and medium-sized enterprises.

 

Posted by the Secret Businessman