BusinessCompany News‘Tax high earners,’ say small businesses

'Tax high earners,' say small businesses

Small businesses have spoken out against government plans for improved public by raising national insurance contributions, saying taxes on high earners should be increased instead.

Link: Treasury defends policy on corporation tax

The survey, based on almost 1000 interviews and conducted on companies with fewer than 50 employees, found almost one quarter of small businesses favoured raising taxes for high earners instead of increasing NI.

But an overwhelming 56% of the businesses questioned said they were firmly against plans to raise money for public services improvements by increasing NI contributions. Instead, more than half said what was needed was better management practices, not more money.

According to the survey, conducted by market information company Taylor Nelson Sofres, 55% of businesses said both the employer and the employees should meet any increase while only one in 10 felt employers alone should increase their contributions, and 27% believed employees should meet the cost.

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