Partner Article

Make this a big Budget for small business urges local specialist

Small business owners across Durham deserve a big boost in the emergency budget on July 8th a local specialist has urged.

Malcolm Massey who runs TaxAssist in Durham said that the Chancellor’s second financial statement in four months, must deliver on pre-election promises for the sector, but also give more concrete plans on key issues such as tax simplification and business rates. He said:

“Our pre-election survey of UK small businesses showed that more than 90% of business owners were set to use their vote, against a national average of 66%. With small and medium sized firms in this country employing over 15 million people, this is a national voice the new Government must listen to very carefully.“George Osborne has said the summer Budget will include new laws to prevent rises in income tax, VAT and National Insurance, which is good news for small businesses, but we would also like to see immediate discounts and reliefs on business rates as we wait for the promised full review of the system next year.

“Tax simplification is also a major priority for small businesses, with 52% of business owners in our survey saying this was an issue which mattered most to them. If the Chancellor is to live up to his claim to be the party of the grafters, roofers, retailers and plumbers, he will need to show clear progress on this crucial area. A big Budget boost for small business would be a great signal this summer that their vital contribution to the UK economy is clearly recognised and valued.”

Over 1000 small businesses responded to a survey by small business specialists TaxAssist Accountants before the General Election.

The results have been forwarded to the HM Treasury who has requested views from businesses and individuals on what they would like to see in the Budget.

TaxAssist Accountants Durham is a local business, providing tax and accountancy advice and services purely to small businesses.

Malcolm Massey is available on 07846 496704 or malcolmmassey@taxassist.co.uk

This was posted in Bdaily's Members' News section by TaxAssist Accountants .