smallbusiness.co.uk: Helping your business think big

Are you working too hard?

News that UK entrepreneurs are clocking up 50-hour weeks will...
Have your say »

RSS

FPB responds to Cameron's tax proposals

Jul 18 2008

FPB responds to Cameron's tax proposals

The Forum of Private Businesses (FPB) is responding with cautious optimism to David Cameron's pledge to improve the tax regulations governing small firms.

According to the FPB, the new proposals may help to stave off a prospective 'exodus' which could happen if businesses continue to be hit by 'mounting taxes'.

In 2007, a survey carried out for the body showed that 97 per cent of small firm owners believe the UK has become a more difficult place to do business because of the government's tax system.

Chief executive of the FPB Phil Orford says that cutting the tax burden on businesses should not coincide with taking away certain allowances - for example banning the practice of 'income shifting'.

He adds: 'While Mr Cameron's proposals on business taxation are welcome news, it is important that he makes good on his statements ... as failure to do so will drive even more small firms away from the UK.'

One of the proposals made by the Conservative leader was the introduction of an American-style law which would give companies facing bankruptcy time to think of a way to recover.

Comments

There are currently no comments on this article

Prize Draw

Enter our prize draw!!

You've probably noticed smallbusiness.co.uk has a brand new look. You can personalise the homepage to suit your needs and there's lots of new content including video, blogs and the small business resource centre.

We're interested to know what you think about the new small business site, so we'd like you to take this opportunity to have your say. All entrants will be entered into our free prize draw to win a bottle of champagne provided by our partners at Laithwaites! Enter here

Polls

Latest News

SMEs in danger of funding drought, trade body says

Small and medium-sized businesses may face a funding drought as banks begin to make accessing finance more difficult, the Forum of Private Businesses (FPB) claims.

Rate hold prediction from 9 of 9 economists

Interest rates will be kept on hold following September's monetary policy committee meeting, nine out of nine economists predict in a new poll.

CEBR says Bank of England has little power over inflation

The Bank of England cannot do much to fight inflation and policymakers are being forced to ‘sit on their hands’ rather than address the problem, the Centre for Economics and Business Research (CEBR) believes.

Economists: Bad publicity helping provoke recession

Bad publicity is helping to fuel poor sentiment and pessimism among businesses and consumers, according to Capital Economics.

Unqualified accountants 'causing problems for SMEs'

Business groups are calling on parliament to make 'accountant' a legally-recognised term to prevent those without the right training putting small firms at risk through offering ineffective counsel.

Business leaders dispute interest rate decision

The Bank of England's monetary policy committee's (MPC's) decision to keep interest rates at their previous level of five per cent has been questioned by business leaders.

Interest rate predictions 'not good for business'

A poll of seven analysts forecasts there will be no change in interest rates tomorrow, an outcome which would damage small business, the British Chambers of Commerce (BCC) claims.

FPB: SMEs should limit credit crunch risk

Small businesses should protect themselves against the effects of the credit crunch, according to a private business advisory body.

Lack of tax changes 'could have severe implications'

Unless the government makes changes to the tax system, there could be 'serious implications' for small businesses, the Forum of Private Businesses (FPB) claims.

FSB: Small businesses exploited

Many small businesses are being exploited by their larger counterparts during the economic crisis, the Federation of Small Businesses (FSB) remarks.

Cameron makes business promises

David Cameron has promised to make things better for small businesses if he is made prime minister at the next election.

Guides & Tips

Have your say: Funding for women

Financial institutions may well need a shake up when helping female entrepreneurs. SmallBusiness.co.uk speaks to some women in business about their experiences of raising finance and asks for your comments.

Moving bank accounts

Are you still getting a good deal, and just as importantly, good support from your bank? If not, it could benefit your business to switch banks. The money your business spends on banking can add up over the year – all money better off helping your business. You could pay for a business mobile phone, buy new software or even a new PC with the money saved.

Opening a Euro account

Whether or not to open a Euro account depends on your individual circumstances. It may or may not be in your best interests.

Don't Miss

Paying your employees

If you have an employee who does not have a bank account, and insists on being paid in cash, what are your options? As a first step, speak to the employee and ascertain why he cannot open a bank account.

Opening a foreign currency account

If your business has a strong hold in the overseas market, or you regularly receive and make payments in a foreign currency, then you may benefit from opening a foreign currency account. By having foreign currency, you will save money as you will not be paying conversion costs.

Use credit cards safely

Business owners are increasingly using personal credit cards to fund their businesses, particularly when it comes to major purchases such as vehicles and equipment.

Store

FT Guide to Personal Tax

Formerly the Lloyds TSB Tax Guide, the FT Guide to Personal Tax is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc and Jonquil Lowe, this unique guide gives step-by-step advice to completing your tax return as well as 100 tax-saving tips.

FT Guide to Business Start Up

Formerly the Lloyds TSB Small Business Guide, the FT Guide to Business Start Up is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc, this unique guide has sold over two million copies. It offers practical advice about starting and running your own business.

Growth Company Investor

Growth Company Investor is widely recognised as the leading magazine for investors interested in AIM and smallcap companies. Published 10 times per year, and brought to you by an award-winning analyst team, it offers subscribers unrivalled insight into high-potential smaller companies. Subscribe today with a 50% discount in your first year.