Fairer tax measures and red tape reduction on small business’ Budget wish list

Forum of Private Business has highlighted key issues raised by its members in the run up to Osborne’s Budget announcement on March 18

Additional measures to create a simpler and fairer tax system, reductions to red tape and improvements to help stop late payments are among the key issues small businesses want to see addressed in the chancellor of the exchequer’s budget announcement this month, according to the Forum of Private Business (FPB).

The national business organisation says its members are keen to see George Osborne introduce a range of policies that will ensure larger businesses will pay their “fair” share of taxes by closing tax loopholes, making publication of tax records compulsory, limiting artificial tax avoidance, and to introduce tax incentives for small business exporters.

Other calls on its member wish list includes measures to improve red tape such as increased support from government bodies, financial support to enable small firms to offer shared parental leave and to continue with short-term reforms of business rates.

Forum members are also calling for further moves to introduce better payment practices and for government to keep National Minimum Wage increases to a minimum.

FPB chief executive, Phil Orford, discussed the call to action:

“With austerity remaining a key priority for the coalition, we feel that the cancellor needs to be able to use taxation as a way to influence better business practice in the UK, ensuring that all businesses pay their fair dues and that the system doesn’t unfairly target many of the small to medium-sized firms that form the backbone of the UK economy.

“Our members welcomed the measure to mitigate the rising costs of businesses rates, but a fundamental review is needed sooner rather than later. The government should bring forward the proposed review to after the election, a commitment we would also like to see in all the main parties’ manifestos.

“We would also like to see continued incentives to encourage smaller firms to consider trading overseas. This is a key factor in ensuring a sustainable recovery and it is vital if we are to hit the UK’s ambitious export target of £1 billion by 2020.”

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