Over two thirds of small business owners feel their tax responsibility is unfair according to research by the Federation of Private Businesses.
The survey comes as we approach the 31 January deadline for self-assessment forms and highlights small businesses’ attitude towards the system.
FPB spokesman Phil McCabe said that their members believe they are bearing an unfair tax burden because of the size of their business.
‘The complexity of the British tax system is not only time-consuming and frustrating, it also puts small firms at an instant disadvantage,’ he explains. ‘Big companies have the expertise and resources to understand the system and minimise their tax burden. For most of our members, hiring an outside tax consultant represents a significant cost few can afford, especially in the midst of a recession.’
It’s also clear from the research that business tax is a nightmare for small companies, as 45 per cent of respondents said their tax burden was a ‘very serious' issue for their firms.
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