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Tax 'undermines small businesses'

19th June 2008, Page 55
19th June 2008
Page 55
Page 55, 19th June 2008 — Tax 'undermines small businesses'
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Which of the following most accurately describes the problem?

THE FORUM OF Private Business (FPB) has called on the government to reverse its corporation tax burden on small businesses, which has increased from 19% to 21% in the last year, and is set to rise again to 22% in April 2009. Conversely, the higher rate of tax that larger businesses pay has dropped from 30% to 28%.

The FPfl says the tax rises are seriously undermining UK small business. Its survey of members suggested that a decrease in their tax liability would encourage 67% to reinvest in their firms, with 50% saying they would have more money for training, and 47% saying I they would look to expand.

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