Small firms seek tax concessions

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Small firms are calling on the Government to extend ‘holidays’ on National Insurance Contribution payments to all small firms, as well as start-ups.

The call comes from the Federation of Small Businesses (FSB).

The FSB has welcomed the Government’s commitment to a National Insurance holiday for start-ups that take on up to five members of staff.

But, it says the pledge must be extended to encourage job creation and adds the Treasury would benefit through income tax and employees contributions.

FSB regional chairman and Sheffield businessman, Gordon Millward, said: “Unemployment is worryingly high and with inflation above target, small firms cannot rely solely on the consumer for growth.

“Government must give a helping hand to small firms and create an environment that helps small businesses grow and develop.

“While they have gone some way in helping new businesses take on new staff, it needs to go further.

“We know that small firms would take on more staff if National Insurance was cut, so to really help boost employment in small businesses, the Government must extend the National Insurance Contributions holiday to existing small firms.

“As we have heard time and again, the Government is looking to the private sector to lead the recovery, but without the right measures in place, small firms are left without the tools they need for the job at hand.”