Company Formation Experts Say Tax Obligations Stop Growth

According to a recent report conducted by the Forum of Small Businesses, the recovery of enterprise in the UK is being held back by an overly bureaucratic and complex tax system.

The report, which involved over three thousand small business owners, found that over 45% felt that the tax system was one of the main challenges of running a small business in contemporary Britain, while over 60% felt that if the tax system wasn’t so complex they would be able to hire more staff and in turn expand their companies.

Economist Jeffery Fleiss, comments; “While the government plan to use the SME sector to increase tax revenue, they should actually be looking at ways to establish consistent and consolidated growth with the SME sector. Making the tax system easier to understand and less of a burden would empower small business owners and allow them to help reduce unemployment figures by hiring new staff within their organization.”