Opportunities for SMEs in the red tape

In an interview with AccountancyAge.com, Whittaker said the regulatory burden on companies, including start-ups, had continued to increase, despite promises from politicians and government efforts.

Whittaker’s comments will anger business groups which believe the net effect of red tape on companies is negative.

But, for a company like Cevas, an e-business venture which processes and pays out expense claims on behalf of its clients and generates P11Ds and VAT calculations, the complex tax system has helped generate business.

‘In a way I am quite please the government has not simplified things too much,’ he said.

‘The government’s inability to decrease the amount of red tape, has created a market place for us.’

Whittaker said web-based technology allowed e-business ventures the opportunity too offer value-added service ‘at the touch of a button’, whereas previously they might have taken weeks to process.

And, he said, the business environment was still a good one for entrepreneurs in general, despite the fact that the tax compliance burden had ‘substantially increased’.

Links

Cevas.com