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