- Friday, 26 March 2010Over zealous pursuit of unpaid tax bills by Her Majesty’s Revenue and Customs (HMRC) is pushing small businesses into
debt management problems and, ultimately,
bankruptcy.
That is the contention of the Federation of Small Businesses, the Times has reported.
Stephen Alambritis, the organisation’s spokesperson, told the news provider: “We have sensed a harsher approach towards businesses.
“This is at odds with what the chancellor said in the Budget.”
Alistair Darling had intimated a commitment to the protection of small businesses’ interests and growth in his Budget announcement this week.
However, several high profile cases recently have seen HMRC aggressively pursue money accruing to the cost of the debtor.
As 13.7 million people, almost 60 per cent of the private sector workforce, are employed by small businesses, the potential cost to individuals and the economy at large could be devastating.
The more small businesses forced into insolvency, the more people could be forced to take
debt management advice themselves.
According to the Federation of Small Businesses there are almost five million operating today in the UK.
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