AT THE HEART OF THE ROAD TRANSPORT INDUSTRY.

Call our Sales Team on 0208 912 2120

Small hauliers

9th December 1993
Page 14
Page 14, 9th December 1993 — Small hauliers
Close
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.

Which of the following most accurately describes the problem?

• The Chancellor said his priority this year "has been to help small businesses". He announced a package of measures designed to reduce the burden of regulation, the shortage of external finance and problems over cashflow. They include: • Two proposals to combat the late payment of debt— a British Standard for payment performance, and legislation to enforce interest on late payments.

"This is a bloody good idea but it also means owner-drivers will have to get their act together to pay their bills on time," says Rob McHugh. He also has reservations about its effect: "If someone can't pay, you can slap a million per cent (interest) on the bill and it still won't get paid."

The Forum of Private Business says that £57bn is owed to small businesses. It wants hauliers to join its register to form a group for lobbying the Government on any future legislation governing late payment.

• PAYE and NI contributions will be integrated.

• Audit procedures for small businesses are to be • A rise in the VAT registration threshold from £37,600 to £45,000.

• Companies with turnovers of less than £90,000 no longer need to have accounts audited.

Tags

People: Rob McHugh

comments powered by Disqus