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SMEs reveal Spring Budget wishlist

The Federation of Small Businesses (FSB) has issued a new report stating that, in his upcoming Budget, new Chancellor Rishi Sunak has a chance to "illustrate his support" for SMEs.

Sunak succeeded Sajid Javid as Chancellor, following Javid’s recent resignation without ever having delivered a Budget.

In his Budget, Javid was expected to introduce wider reforms of business rates, following his initial halving of bills for small shops, cafes, music venues and cinemas.

The FSB has found that small businesses want lower business rates and a delay to the off-payroll rules extending to the private sector in next month's Spring Budget.

As it stands, with the off-payroll extension, every medium and large private-sector firm will become responsible for setting the tax status of any contractor they use from April.

Mike Cherry, Chairman at the FSB, said:

"It's vital that the cost of doing business, specifically when it comes to business rates, protecting incentives to grow, and accelerating the delivery of key infrastructure commitments are delivered sooner rather than later.

"Self-employed people will be looking for a Budget that shows this Government is on their side, and the results of the investigation into IR35 which they hope will see a delay in the rollout from April."

Budget round-up

Our sister company Brewers Chartered Accounts will provide full coverage of the Spring Budget 2020 – look out for our round-up email the morning after the Budget next month.

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