Businesses again call for 'automatic taxation relief'

Date: 9th February 2009

Britain's businesses have once again called on the government to make corporate taxation relief automatic.

More than half of smaller companies - including sole traders and partnerships - are missing out on up to £1,200 in taxation relief as they are unaware of the scheme, the Federation of Small Businesses (FSB) has claimed.

According to the federation, the UK's eligible small firms could save £400 million if this were to be implemented.

National chairman of the FSB, John Wright, said: "After rents and wages, rates are the biggest cost to a business and automatically getting the relief they are entitled to would be extremely welcome.

"During the recession, this cash injection could save many small businesses from laying off staff or closing down completely."

He added that members of the FSB would be contacting their respective MPs to lobby further for the policy.

At the start of the month HM Revenue and Customs revealed that close to £6 million businesses and individuals filed their tax returns online.