Budget - NE business owners want tax and red tape reductions

 

NORTH EAST business owners want to see reductions in tax and red tape in the upcoming Budget to help their businesses grow, a survey has shown.

We recently undertook a survey which revealed that the key areas that business owners in the North East felt the Government should tackle in the upcoming Budget included:

·         Making grants and funding more accessible

·         Reducing the administration burden for small business owners

·         Increasing VAT payment deadlines

·         Simplified tax policies

·         Reduced business tax rates

·         Assistance to make exporting their products simpler

·         Subsidising export costs

Lee Watson, our senior tax manager, said:

“It’s clear that business owners were not satisfied with the outcome of the previous Budget and hope that now that the coalition Government is no more, a single Government can make things easier, in the upcoming Budget, rather than the previous situation where many agreements and compromises were made.

“As a firm, it would be great to see some policies introduced to help the smaller business grow, as these businesses really are the backbone of the economy and entrepreneurs should be able to concentrate on working on the business rather than in it, dealing with red tape.”

Tax is priority for owner managers and we understand this.  We focus on tax planning and compliance and ensure regular communication to clients and contacts.  As part of our commitment to this, we are holding two events in July that will focus on tax.  There is a Budget seminar on Friday July 10 at Hardwick Hall and a Top Tax Tips event at its Darlington office on Thursday July 16.

For more details or to book your place at any of the events, contact Margaret Gill on 01325 349700.