MP calls on Chancellor - slash red tape on businesses
South Lakes MP Tim Farron has asked the Chancellor to slash the red tape facing small business.
Tim was contacted by a local small business owner at one of his regular advice surgeries. He was told that businesses are required to submit information to the Office of National Statistics (ONS) Quarterly Survey of Capital Expenditure every quarter, with a fine of £2500 being liable if the information is withheld. Tim's constituent estimates that this exercise costs his business approximately £400 every year due to the increased accountancy and administrative fees he has to pay. He notes that the information required is already submitted via his VAT return, which is also completed on a voluntary basis.
Tim is asking the Chancellor to cut burdens facing businesses. In the letter he asks if George Osborne will: 'commission officials to work with HMR&C [HM Revenue & Customs] and the ONS to see if the required statistical information can be gleaned using pre-existing VAT return information'
Tim said: "Local businesses are working incredibly hard and thanks to their tirelessness work, our local economy is doing well. But we must never take that for granted. I want the government to listen to local businesses and work to remove unnecessary burdens from them."