Tories single-minded on company reports

The Conservatives are supporting a single declaration of company results to
satisfy both HM Revenue & Customs and Companies House.

John Redwood, chairman of the Conservative Economic Competitiveness Policy
Group, urged the move, which the government is considering, in a submission to
the government’s Better Regulation Task Force ‘on how it can start to set people
free from too much bureaucracy’.

Redwood’s 12 priority measures recommended venture capital should be ‘exempt
from regulation’ because ‘this is a business activity covered by the general law
of contract’.

Other proposed measures were ‘allowing individuals to opt to buy unregulated
financial service products, if they sign a paper stating they are happy to take
the risk’, and changing the rules so those allowed exemptions or deferments from
National Insurance contributions do not have to apply annually for renewal. They
only have to when circumstances change.

The list also included removing the need for charities and those raising
money for charities, to have gaming licences for raffles and bingo.

Redwood, a former DTI corporate affairs minister, said: ‘This government has
made life far too complicated for individuals and small businesses.

‘It is affecting our competitiveness and our stress levels. It’s way past
time that the government cracked down on all this meddlesome red tape.’

Related reading