Their anxiety was fuelled by the Treasury’s decision last week to invite only
the UK’s largest companies to sit on a new committee looking at tax policy.
Stephen Alambritis, spokesman for the
Federation of Small
Businesses, said: ‘There’s a relationship between large corporation tax and
small companies’ rates. If it is made more generous for multi-national
enterprises, small companies’ tax rates will possibly go up.’
The Forum of Private
Business said it was worried about the new tax policy committee’s
conclusions mirroring what happened with corporation tax, when large firms
benefited from a 2% cut while small firms suffered a 2% rise.
‘There is a concern that it will focus on the concerns of multi-national
enterprises and that there is a trend to increase taxes for SMEs.’
He added that the lack of SME representation on the new committee was
another example of the ‘pressing concerns of small businesses being sidelined’.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states