Chancellor George Osborne should try to take the needs of the country's small businesses into account in his emergency financial Budget next week (June 22nd), one organisation has suggested.
According to the Federation of Small Businesses (FSB), capital gains tax is one issue that the chancellor could focus on.
UK contractors may be interested to note that the federation feels that business owners should not have to face any large-scale increases in this form of taxation.
It believes that long-term investment in smaller scale companies could potentially be negatively impacted by it.
Meanwhile, the FSB has also recommended that the government carefully times the introduction of any changes to VAT.
National chairman of the FSB, John Walker, commented: "It is imperative that any changes to capital gains tax or VAT go hand-in-hand with an ambitious plan for helping economic growth through allowing small firms to employ, grow, invest and innovate."
Earlier this month, the organisation also published survey results which suggested that many small firms have not been entirely satisfied with the high street banking support they receive.
Posted by Brian de Selby.