Sajid Javid, the Chancellor of the Exchequer, was in Norwich on 21st November and took the opportunity to visit the TaxAssist Accountants Support Centre to meet Directors and Senior Managers to learn more about the concerns of small businesses.
“It was a very worthwhile meeting, during which we discussed a number of really important issues”, said Karl.
“The TaxAssist Accountants network of over 350 shops and offices looks after the needs of more than 75,000 small businesses across the country, and we used the time we had with the Chancellor to highlight a number of key concerns on their behalf:
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IR35 and the changes scheduled for April 2020
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The disproportionate costs and impact of compliance on small businesses
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The advantage online businesses have compared to the high street as a result of the business rates system which is in need of a review to ensure a more even playing field
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The lack of tax incentives for small businesses and the proposed cap for Research & Development tax credits which will hit innovative small businesses
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The future for inheritance tax following ministers comments surrounding it’s future
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The lack of support available to small businesses to help them comply with Making Tax Digital, such as access to compliant software and good internet speeds
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The current arrangements for apprenticeship funding, which don’t help small business owners nurture new talent
“We are proud to represent small businesses, the ‘lifeblood’ of the UK economy and we will take every opportunity we get to speak up for their needs and concerns,” added Karl.
November 2019
