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Small business - the lifeblood of industry or an irritation to government?

I have been reading the latest batch of consultative documents and finally reached the stage of deciding enough is enough. The paper that tipped the scales was the Discussion Document on the Taxation of Foreign Profits (comments on this will follow separately). Ignoring the “use” of English worthy of Big Brother (the original not Channel 4 version!) the content is also unhelpful.

The introduction was, shall I say, interesting – it referred to the Budget 2007 reforms and other proposed measures as “refocusing the tax system’s support for small businesses.” Forgive me, but how does increasing the rate of corporation tax for small companies and decreasing capital allowance rates show support? Is it that the support is being refocused away from small business?



Date: 9th July, 2007
Author: Cathy Corns


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