Businesses demand say in govt taxation spend

Date: 27th January 2009

Small businesses have demanded a greater say in how the government spends taxation revenues as Westminster looks to impose new legislation.

Companies - such as partnerships and sole traders - are becoming increasingly concerned that the upcoming Business Rate Supplements Bill will result in a greater tax burden for the sector.

In response, the Federation of Small Businesses (FSB) has called on the government to guarantee that it will spend the additional revenue on economic development.

National chairman of the FSB, John Wright, commented: "Cashflow is king for small businesses who want to hold on to and train their staff.

"With small business failures entering their hundreds each day and taking thousands of jobs with them, it seems counterproductive to introduce a new tax."

Small firms and self-employed individuals should also remember to complete a self-assessment tax return and file it online with HM Revenue and Customs by January 31st.