Cost of compliance, business rates system and lack of tax incentives highlighted as important issues
“Worthwhile” was how Karl Sandall, chief executive director of The TaxAssist Group, described his recent meeting with chancellor Sajid Javid, during which he raised a number of issues concerning UK small businesses.
Among the concerns are the disproportionate costs and impact of compliance on small businesses and the advantage online businesses have compared to the high street as a result of the current business rates system.
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The chancellor met with Karl during a visit to TaxAssist Accountants’ support centre in Norwich on November 21.
“It was a worthwhile meeting, during which we discussed a number of important issues,” Karl says.
“The TaxAssist Accountants network of over 350 shops and offices looks after the needs of more than 75,000 small businesses across the country and we used the time we had with the chancellor to highlight a number of key concerns on their behalf.”
Other issues discussed included the lack of tax incentives for small businesses and the proposed cap for research and development tax credits, the lack of support available to small businesses to comply with Making Tax Digital and the current arrangements for apprenticeship funding.
Karl adds: “We are proud to represent small businesses, the lifeblood of the UK economy, and we will take every opportunity we get to speak up for their needs and concerns.”