Only 14% of SMEs felt that the VAT cut had helped their business, with over
half concerned that the corporation tax rise would impact their motivation to
grow their business.
The survey of more than 600 clients by
Watts (HW) found that one in four were being asked for personal
guarantees against bank loans.
“There needs to be far more emphasis on measures that help businesses with
cash flow such as staggering PAYE contributions,” said HW partner David Maultby.
“The VAT reduction was of little help to most business owners but was the
main tax stimulus deployed by the Treasury.”
Only 10% of respondents would use their bank to ‘sense-check’ business
decisions, preferring to turn to other business owners (53%) or their
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...