The government’s proposals for supplementary business rates have U.K. small business and start-up business, like SOHO-, SME, SMB-, Micro-, Lifestyle-, Home-, DIY-, Hobby-, Boomer-, Personal businesses, across the country in a state of worry. According to these proposals the local government committees and councils would have power over the tax being charged in the local area.
This essentially means that you would be paying taxes according to your location. The Federation of Small Businesses (FSB) is strongly advocating against these changes. “Varying the business rate or creating a supplementary business rate is unnecessary,” says FSB spokesman Roger Culcheth.
The FSB also added that SMEs were already contributing to the local community through business improvement districts and the governmentís current proposals were unnecessary.
Small business, start-up business and personal business have a difficult time paying the high property taxes and would be burdened if the supplementary business rate comes into practice.
It is suggested that small business, start-up business and personal business find ways to reduce tax liability and one of the best ways of doing so is by reducing the office space that a business occupies. Businesses should use online offices to store business information and work together, that can be accesses easily even when one is away from office.
Flexible working conditions such as remote working is also another way to reduce the office space, as is investment in business infrastructure that streamlines business processes such as cash flow, plus it is good for the environment since it reduces your carbon footprint.