To the UK Government
“The UK’s small businesses are a leading contributor to the country’s employment and economy. We ask the Government to help us by developing the right programmes and policies that will allow us to grow and succeed at this critical time. We are not looking for handouts; we are looking for the right sort of help.”
Small Business Britain needs dedicated and specific tax policies
- Reduction of employer’s National Insurance contribution rate
- Further deferment of the rate increase of Corporation Tax
Context
The amount of taxes small businesses have to pay is in imminent danger of stifling the potential growth and success of Small Business Britain. Even though the Government has halved its planned NI contribution increase for small businesses and deferred a planned 1p rise of Corporation Tax, Small Business Britain needs more.
The Small Business Britain Survey demonstrates the desire for a reduced NI contribution and for a long-term deferment of any Corporate Tax increase. These measures will help create a strong economic platform upon which they can grow and employ new staff.
Any UK Government must recognise that as the employer of 13.7 million people in the UK, the 4.7 million small businesses that constitute Small Business Britain are a key part of the UK economy and small incentives and benefits could lead to massive improvements in the wealth and prosperity of the nation.
Evidence of support
In the Small Business Britain Survey, these two measures gained the most significant support amongst a list of the ten most widely debated policies that would potentially aid small businesses. Most significantly, only one in ten respondents did not feel that they required extra support from the Government.
People were asked to pick the measures from the list that they felt would benefit small businesses the most. The two most strongly supported were:
- 40% called for a reduction in employers’ national insurance contribution
- 30% call for Corporation Tax deferment
Both issues have also been the subject of strong lobbying by the Federation of Small Businesses.
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