The Forum of Private Business (FPB) is to petition Chancellor Alistair Darling, to ease the tax burden on small businesses following his announcements in the recent Pre-Budget Report. Changes to capital gains tax, which were designed to target private equity groups, will also hit owners of smaller businesses, it says.
Darling also announced that corporation tax would be slashed - but only at the higher rate. Smaller businesses will continue to pay the 22% rate, which was raised from 19% in the previous budget.
To sign the petition to the government, visit the FPB’s website at [http://www.fpb.org/fpbpetitions/12].
l See PBR analysis pg 14.