The Federation of Small Businesses (FSB) has warned that thousands of small firms face ‘sky rocketing business rates bills’.
The business group warned that small firms face a ‘triple whammy of threats’, including from the ‘small business multiplier’; a quadrupling of their bills when the 75% retail, hospitality and leisure business rates discount ends in March; and from large businesses paying suppliers late.
The FSB has called for ‘urgent and comprehensive action’ to power the UK economy, combat late payments and tackle rising rates bills for small firms.
Tina McKenzie, Policy and Advocacy Chair at the FSB, commented: ‘Thousands of pubs, cafes and small shops face sky rocketing business rates bills. We are at a crossroads for the future of our economy. Real life businesses need a platform to power through troubled times.
‘Government is about choices and the Chancellor must concentrate his firepower where it can do the most good – small firms and the 16 million jobs they support. The prize for getting this right is massive.’
23/11/2023
View all >
16/05/2024
300,000 file tax returns in the first week
Almost 300,000 self assessment taxpayers filed their return in the first week of the new tax year, HMRC has revealed.
READ MORE
Shortfall in pension savings of £119,000
UK adults face a significant shortfall in their pension savings at retirement compared to what they wanted to retire on, according to research from Standard Life
£51 million in phone funding for HMRC
The government has announced an extra £51 million in new funding to bring HMRC’s phoneline service back up to the published target of 85% of calls to its advisers being answered.
Sign up to keep in touch to receive our latest news and industry updates.
* *
Yes, I would like to receive email updates providing me with the latest finance news, advice guides and details of future events.