Chancellor urged to ease burden for small businesses

By Anita Jaynes on 13 March, 2014

Swindon accountants Banks are calling on the Chancellor to ease the burden on small businesses in next week’s Budget.

George Osborne will reveal his Budget on Wednesday March 19, when he sets out the Coalition’s financial plans in the run-up to next year’s General Election.

Richard Mathews, director of Banks, Chartered Accountants, said he’d like the Chancellor to give some good news to business.

“We’d like him to ease the cost of employing people by reducing employer national insurance contributions or consider giving an enhanced credit for PAYE costs,” he said. “Mr Osborne could also provide tax incentives for small businesses trying to cope with the cost of auto-enrolment.

“For personal taxation, reducing the higher rate tax back to 40 per cent and increasing the threshold for higher rate tax would ease the burden for the many people who now fall into this bracket. The Chancellor should also think about stopping the clawback of the personal allowance at £100,000 or at least increase the point at which it starts.”

Banks will be running a Budget review on Thursday March 20 with a panel of experts providing analysis of what the announcement will mean for Swindon businesses. The panel will be made up of Ian Piper of Forward Swindon; Amanda Barnett, an independent financial adviser from Grosvenor Consultancy; Richard Mathews of Banks; and Allan Oakes, of Fastlink Data Cables, who will present a business owner’s view of the Budget.

To register for the free event, which runs from 5.45-7pm and includes a light buffet, email claire.hunt@banksca.co.uk.

Also on March 20, Richard will be giving a post-Budget review at the Business Village breakfast networking group. The group meets from 7.30-9am at the Holiday Inn Express by junction 16/M4, costs £10 and is open to all. For more details visit:www.businessvillage.org.