The Forum of Private Business (FPB) has slammed HM Revenue and Customs for the mistreatment and harassment of UK small businesses.
The FPB said it had written to David Gauke, Exchequer secretary to the Treasury, to complain about HMRC’s imposing steep fines for slight delays in tax payments as well as records errors or omissions, while at the same time agreeing ‘sweetheart deals’ with some of the UK’s largest companies.
It follows a report published before Christmas by the Public Accounts Committee, which estimated that unpaid taxes from big businesses could amount to more than £25 billion, prompting the Prime Minister to pledge action on tax avoidance.
The FPB cited a pilot exercise from September 2011 that resulted in the taxman extending its small business record checks project, meaning 20,000 firms face visits from the taxman in 2012-13, despite just 12% of firms displaying ‘seriously inadequate’ paperwork.
The Forum’s own cost of compliance survey from July 2011, revealed that tax administration has become the main regulatory burden for small business owners, leaving them with a bill of £5.1 billion per year.
In response Phil Orford, chief executive of the FPB, said the taxman was being “completely inflexible”.
“Small businesses want to keep proper records but struggle with the significant administrative barriers that exist in the UK,” he said.
“They also want to pay their tax bills on time but the reality is that many firms are struggling with cash flow in extremely tough economic conditions – yet HMRC is being completely inflexible. Operating such a strict, punitive small business records checks regime while effectively allowing large companies to do as they please is completely unfair.”
The FPB is now warning firms to pay their tax bills on time or face large fines, amid criticisms that HMRC’s paperwork spot checks regime is targeting them at the expense of large companies.
Firms are expected to keep records going back at least six years. Information including invoices, bank statements, receipts and cheque stubs will have to be supported by up-to-date accounts books and detailed analysis.
Great post however I was wondering if you could write a litte more on this subject? I’d be very thankful if you could elaborate a little bit further. Thanks!
Congratulations on possessing actually one in all one of the most sophisticated blogs Ive arrive throughout in some time! Its just amazing how a lot you’ll be capable of contemplate away from a factor mainly simply due to how visually stunning it is. Youve place collectively an excellent blog website house -nice graphics, motion pictures, layout. This is actually a should-see website!
It is perfect time to make some plans for the future and it is time to be happy. I’ve read this post and if I could I desire to suggest you some interesting things or tips. Perhaps you can write next articles referring to this article. I wish to read even more things about it!
Wow, incredible blog layout! How long have you been blogging for? you made blogging look easy. The overall look of your website is magnificent, let alone the content!
Hi I stumbled on your page by mistake when i was searching AOL for this matter, I have to point out your website is definitely valuable I also love the design, it is superb!
I absolutely love your blog and find most of your post’s to be what precisely I’m looking for. Does one offer guest writers to write content for yourself? I wouldn’t mind publishing a post or elaborating on a number of the subjects you write related to here. Again, awesome web site!
Hello There. I found your blog using msn. This is a very well written article. I will be sure to bookmark it and come back to read more of your useful info. Thanks for the post. I’ll certainly return.
Beneficial write, We are checking back on a regular to hunt for fresh news.
Wow that was strange. I just wrote an extremely long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Anyhow, just wanted to say great blog!
This design is spectacular! You certainly know how to keep a reader amused. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Great job. I really loved what you had to say, and more than that, how you presented it. Too cool!
Hey I stumbled on your page by mistake when i searched Yahoo for this matter, I have to point out your website is definitely very helpful I also really like the style, it is great!
Hi there I discovered your blog by mistake when i was searching Live search for this matter, I need to say your site is absolutely useful I also really like the design, its good!
Bless you for spending some time to describe the terminlogy for the beginners!
I am only writing to let you understand what a beneficial experience our princess enjoyed going through your webblog. She realized a good number of things, which include what it is like to have an incredible coaching mindset to get the mediocre ones really easily know just exactly specified extremely tough matters. You really exceeded my expected results. Thanks for distributing these warm and friendly, safe, educational and even fun tips on the topic to Evelyn.
It is my pleasure and thank you very much
Nothing succeeds like success.
Wow! This could be one particular of the most useful blogs We have ever arrive across on this subject. Actually Excellent. I’m also a specialist in this topic so I can understand your effort.
He who has the gold, makes the rules.
Visited your webblog through Digg. You know I am subscribing to your feed.
Hello there, You have done a great job. I’ll definitely digg it and individually recommend to my friends. I’m confident they will be benefited from this website.