Small firms slam proposed 'business rates hike'

Date: 12th January 2009

British small businesses could be faced with a taxation bill of up to £7 billion next year under government proposals, it has been claimed.

According to the British Retail Consortium (BRC), the planned Business Retail Supplement Bill could add up to £1.6 billion to the £5.45 billion already paid by the sector in taxes.

The organisation has argued that if such a bill were to be passed, it would be a further blow to retailers already struggling under the weight of recession.

Director general of the BRC, Stephen Robertson, commented: "Many retailers are struggling with the triple whammy of falling sales, crushed margins and rising costs.

"Retailers are crucial to livelihoods, customers and communities. We don't expect handouts but we don't want further handicaps."

Retailers - including sole traders and limited companies - are also reminded that the deadline for self-assessment tax returns falls on January 31st, with all submissions now having to be made online.