Business start-ups suggest changes to HMRC

Date: 2nd December 2008

Business start-ups have forwarded a number of proposed taxation changes to the government, it has been revealed.

The Forum for Private Business (FPB) has approached HM Revenue and Customs (HMRC) with a number of suggestions to help small firms, such as using discretion for those enterprises which make mistakes with their VAT returns during the temporary rate cut.

Andrew Needham, a VAT expert with the FPB, put forward the ideas to the government: "Revenue and Customs was open to my suggestions and said that it would consider and make any changes within its power to assist small firms at this difficult time."

Mr Needham added that he was confident the FPB had convinced the department to make some small changes, which could provide relief to business start-ups.

Last week, research by the think tank Tenon Forum concluded that business start-ups had suffered from a fall in demand since the onset of the credit crunch.