 PKF dismisses Darling’s ‘Lilliputian’ Budget measures for small businesses
12 March 2008: Apart from the welcome increase in Enterprise Investment and Venture Capital Schemes’ investor limit from £400,000 to £500,000, the remainder of Alistair Darling’s Budget business measures are unlikely to reassure the UK’s 13 million strong small business community that their interests are high on the Government’s agenda.
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 | PKF National Tax Director, Lisa Macpherson, described the Chancellor’s handful of measures such as the temporary 20% increase in finance available from the Small Firms Loan Guarantee scheme; the £12.5m capital fund for businesses run by women; and the creation of a committee to provide advice on how SMEs can win more public sector contracts as ‘Lilliputian’. “These half-hearted measures give the impression that the Government is genuinely interested in supporting small businesses, but they fool no-one.” |
“After nearly 11 years under a Labour Government, the small business sector is more highly taxed, frustrated and overburdened by meaningless red-tape than ever. The latest blows caused by the pre-Budget uncertainty in the capital gains tax rules; increases in corporation tax for small companies; and the planned introduction of income shifting rules which have now been postponed a year; completely contradict Government promises to simplify and incentivise the sector and have left small businesses totally demoralised and disillusioned.”
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Jason Gowar, PR Manager, 020 7065 0573, jason.gowar@uk.pkf.com
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Follow PKF's Budget 2008 coverage at www.pkf.co.uk/budget
Notes to Editors:
- PKF is a leading firm of accountants and business advisers with more than 1,800 partners and staff operating in 23 offices in the UK mainland firm, a wholly-owned financial planning company and associated offshore practices. The firm specialises in advising growing and entrepreneurial/owner-managed businesses, AIM and fully listed companies, and also has extensive experience in the public and not-for-profit sectors. Principal services include assurance and advisory; taxation; consultancy; corporate recovery and insolvency; corporate finance and forensic. The firm has particular expertise in advising sectors such as hotels and leisure; mining and resource; public sector; real estate and construction; professional practices; not-for-profit; and medical. The firm’s web site is www.pkf.co.uk.
- PKF (UK) LLP also offers financial services through its FSA authorised company, PKF Financial Planning Limited. PKF (Isle of Man) LLC is a limited liability company registered in the Isle of Man. PKF (Guernsey) Limited is incorporated in Guernsey.
- PKF (UK) LLP is a member of PKF International which is an association of legally independent firms with more than 14,650 people operating in 119 countries around the world.
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