Small busi­nesses need bud­get boost

Buckinghamshire Advertiser - - BUSINESS - By Camilla Good­man camilla.good­man@trin­i­tymir­

SMALL busi­ness own­ers across Bucks de­serve a big boost in next month’s emer­gency bud­get, a lo­cal spe­cial­ist says.

An­drew Twynam who runs TaxAs­sist in High Street, Che­sham said the Chan­cel­lor’s sec­ond fi­nan­cial state­ment in four months, which will be given on July 8, 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 pre­elec­tion sur­vey of UK small busi­nesses showed that more than 90 per cent of busi­ness own­ers were set to use their vote, against a na­tional av­er­age of 66 per cent. With small and medium sized firms in this coun­try em­ploy­ing more than 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 per cent 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.”

More than 1,000 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 which has re­quested views from busi­nesses and in­di­vid­u­als on what they would like to see in the bud­get.

TaxAs­sist Ac­coun­tants Che­sham pro­vides tax and ac­coun­tancy ad­vice and ser­vices purely to small busi­nesses.

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