FSB responds to Autumn Budget statement

(2 minutes to read)

The FSB has responded to the Autumn Budget regarding decisions that will have a positive impact on the UK’s smaller sized businesses.

Following the Autumn Budget, the Federation of Small Businesses (FSB) says that the Chancellor is finally listening to the small business community.

Commenting at the time of the Autumn Budget release, FSB National Chairman Mike Cherry said:

“[Today] the Chancellor has shown that he is now listening to the small business community. By acting on FSB’s recommendations for high streets, VAT and the Employment Allowance, the Treasury is set to provide some much-needed lifelines for thousands of small firms.

“Complying with the burdensome Value Added Tax (VAT) regime costs the average small registered business a working week every year. That’s time that should be spent growing their firms. Suddenly dragging more small firms into the burdensome VAT system would have risked a real shock to the economy at an uncertain time. The Chancellor’s decision to freeze the £85,000 turnover threshold for VAT registration until 2022 has saved the business community from disaster.

“The Employment Allowance is a vital incentive that’s helped more than a million small firms create jobs, increase pay and invest over the last year alone. It’s good to see the Government keeping the allowance in place, directing it towards the small employers where it has the most impact.

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“This Government’s relationship with the self-employed community has been a mixed one. However, the Chancellor has rightly responded to our calls for greater funding for training within the self-employed community. We look forward to delivering the £10 million self-employment training pilot scheme announced today in Manchester.

“It’s good to see that the New Enterprise Allowance programme will be continued. This initiative has helped more than 100,000 unemployed people start firms. It’s exactly the kind of programme that a pro-business government should unequivocally support. As is the Start-Up Loans company, so it’s good to see the Government extending funding for this crucial part of the British Business Bank. Equally, it’s encouraging to see the Government starting to address the many aspects of Universal Credit that do not work for the self-employed. Far more action is needed in this space.”

He added, “Extension of the IR35 rule changes that have taken place in the public sector to the private sphere must be handled with caution. Careful consideration must be given over the next two years as to how this potentially damaging roll-out should be managed. The flexibility of our workforce is one of our economy’s greatest strengths – one that should be protected.

“Small businesses on our high streets that cannot get Small Business Rate Relief will be delighted with the significant discount for the next two years, which on average will help these businesses to the tune of almost £2,000 each, but potentially up to around £16,000 off small businesses facing the biggest bills.”

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.