The majority of small businesses have been left feeling underwhelmed by changes made to the tax system, says a new report.
The Forum of Private Business (FPB), made up of small business owners and those running franchise services, polled its members and found that very few were pleased with the tax reforms that the coalition government has introduced.
According to theinformationdaily.com, 28 per cent of those polled said the fairness of the tax system had deteriorated, while 17 per cent felt there has been an improvement. Furthermore, 25 per cent said that they thought the system had become more complex while only 14 per cent thought it had simplified.
Almost all of those surveyed felt that their tax rates were too high, with only three per cent saying that they saw no problem with current rates, reported lawdonut.co.uk.
The survey was carried out as the coalition reaches the halfway mark of its five years in government.
FPB chief executive Phil Orford said: “It’s evident that business rates are increasingly being viewed as a crude lever to extract cash from hard working entrepreneurs.”
The British Retail Consortium (BRC) is calling for Osborne to freeze business rates in the 2013 budget, which will be announced on March 20th.