The Federation of Small Businesses (FSB) states the Government need to give added assistance to small business owners and the self-employed. The FSB has requested the coalition Government to reduce business red tape and proposes that tax breaks be offered to small, expanding enterprises willing to employ more staff.
John Walker, national Chairman of the FSB commented that he believed that the Government, through the tax system, should support the self-employed and encourage those with aspirations to be self-employed. During this time when tax breaks are not substantial and are scarce, careful tax breaks should be directed towards those wishing to expand and employ or hire more staff.
He emphasised that accurate and correct taxation is to be paid by all businesses, but HM Revenue and Customs must appreciate, with the extensive taxation book the UK holds, infrequent errors will occur in small businesses, the majority not having Finance Departments. Smaller firms do not have the understanding and skill in bookkeeping and therefore should be given added assistance to keep their files up to date.