Autumn Budget must address SME issues, says FSB

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FSB: ‘We need to see the Chancellor step-up to the mark next month with measures that will reinject optimism into the small business community and enable growth’.

The FSB is calling on Sajid Javid to bring forward radical interventions to address an unprecedented long-term slump in small business confidence when he publishes the 2019 Autumn Budget in November.

Writing to the Chancellor, the group calls for a major reduction in business rates bills for small firms, as thousands struggle to stay afloat amid spiralling operating costs.

FSB recommends that the Retail Discount – which allows small retailers with rateable values of up to £51,000 to claim a 33% discount on their rates bills – be increased to at least 50%, made permanent and extended to small firms operating in other sectors, including manufacturing.

It is also calling for the threshold for Small Business Rates Relief to be increased from £12,000 to at least £30,000. The threshold has remained largely static in recent years, despite the Rateable Values that determine rates bills surging in many parts of the country, particularly on high streets in large towns and cities.

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FSB National Chairman Mike Cherry, commented, “Small businesses have been left hamstrung by uncertainty for the past three years. We need to see the Chancellor step-up to the mark next month with measures that will reinject optimism into the small business community and enable growth. Otherwise, we’re in for a very bleak winter.

“Business rates reform must be a priority. This unfair, regressive tax – which hits firms before they’ve made their first pound in turnover, let alone profit – continues to threaten the futures of small firms all over the country. We’ve secured important business rates mitigations in the past, but now is the time for a significant reduction in small business bills.

“Fundamentally, the business rates tax serves as a disincentive to invest. You spend money on bettering your property – by installing solar panels, or improving workplaces, for example – and the next thing you know your rates bill has shot up. It’s ludicrous.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

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