Tax 'is the key election issue' for small business
The Federation of Small Businesses (FSB) has highlighted taxation as a key issue for small businesses in the run-up to a general election.
Following an email survey of its 185,000 members, the FSB unveiled its 'six key principles' for the general election.
The organisation called on politicians to commit to a fairer and simpler tax system, arguing that it could prove a vote-winner.
Carol Undy of the FSB said, 'Our snapshot suggests that taxation will have the biggest influence over which box business owners tick'.
'With an average of 6,000 small businesses per constituency, would-be politicians would do well to listen to entrepreneurs', she added.
The FSB is advising politicians to consider a number of measures, including:
- Introducing a £10,000 tax free allowance for firms, regardless of their status
- Making the state responsible for benefit payments, rather than employers
- Abolishing the IR35 regulations
- Allowing VAT free movement of goods between registered traders
- Allowing all businesses with a rateable value of under £25,000 to qualify for small business rates relief.
Other key issues of concern to small firms included red tape, employment law, crime, and improving the business environment.
