Do you a small business? Do you feel deep down that you are being unfairly treated by the tax authorities and that your interests are not being served properly? Well, you are definitely not alone it would appear. A recent study by Chorus, a small business membership community, has confirmed what small business owners and accountants have long felt; and that’s that the UK tax system may in fact be heavily stacked against the small and micro business community, leaving them powerless.
So what exactly did this latest survey say? Well, it was commissioned to discover the small business community’s views on the current tax system and how it felt it was being treated. The survey found that only 10 per cent of small business owners were remotely satisfied with the way the UK’s tax and benefits system treats the small business community: two-thirds of UK micro businesses, however, believe the nation’s tax system is both ‘biased and unfair’. What’s more over half of the small businesses polled stated they felt ‘voiceless’ about the government decisions which directly affect their businesses.
Speaking about the survey, Jason Kitcat, micro-business ambassador for Chorus, said:
“Our research shows that the UK’s micro-businesses feel ignored by mainstream political debate and that they feel powerless to influence policy making with a taxation and benefits system that is stacked against them.”
So in what areas do small businesses feel they receive insufficient help and support? Well, the survey found that the key areas where late payments and cash flow management. Almost one-fifth of the businesses polled said late payments was the primary concern where they felt they were not receiving adequate support; in terms of cash flow management, 18 per cent of the respondents polled felt let down and ignored by the authorities.
Mr Kitcat stated that as the UK’s smallest businesses are continuing to drive the national economy forward; they need to receive more support and representation to better reflect this:
“It’s clear that it’s time for the decision makers in Government to understand and value the hard work of the micro-business community, and we are here to help make this happen,” he added. [Official figures show that with more than 5.2 million micro businesses in the UK employing between 1-9 staff, the small business community accounts for 96 per cent of all British businesses, employing approximately 8.4 million people across the country].
If you run your own small or micro business and are looking for financial advice and support to help to drive your business forward, then contact Steven Glicher accountants. Call our accountants on 0161 485 8007 or email email@example.com and find out how we can help you.