How small firms are made to pay for banks bail-out

Daily Express - - LETTERS BEACHCOMBE­R -

I WON­DER how many small busi­ness own­ers have no­ticed Gor­don Brown’s lat­est at­tempt to sup­port the bread and but­ter of our econ­omy.

Sadly there are no bil­lions of pounds com­ing your way, just the first signs of how Brown will fi­nance the bank bail-out. You are go­ing to pay more stealth tax by way of stag­ger­ing in­creases in late-fil­ing penal­ties for pri­vately owned com­pa­nies.

The penalty of £100 for be­ing up to three months late in fil­ing ac­counts has risen to £375. There is now a fine of £150 for late fil­ing up to just one month. More than six months late and you will be hit with a fine of £1,500. Th­ese fines ap­ply even if the com­pany is dor­mant or mak­ing losses. Alan Phillips,

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