APPLE CORPORATION TAX RULING:71% OF SMES FEEL BIG BUSINESS BENEFITED FROM TAX SYSTEM MORE IN UK

  • New research finds 7 in 10 SME owners feel they’re getting a raw deal on tax
  • SME becomes liable for corporation tax when they change from being a sole trader to a limited company, yet many business owners struggling to calculate correct level of tax due

Ed Molyneux, CEO and co-founder of FreeAgent– who provide multi-award winning cloud accounting software for freelancers, micro-businesses and their accountants – said:

“The European Commission’s decision will be welcome news for freelancers and micro-businesses – many of whom feel that they are getting a raw deal when it comes to paying tax.”

“We recently carried out research that found seven in ten (71%) UK micro-business owners in the UK felt that larger businesses benefited more from the tax system than they did. Projected across the UK’s 5.2 million-strong micro-businesses sector, which accounts for 95% of all businesses, that equates to millions of self-employed people who view the tax system with a sense of injustice.”

“We know that corporation tax is often a stumbling block for micro-business owners to deal with, especially when they change from being a sole trader to a limited company. It can be a very confusing tax to understand and many of them have to work very hard to calculate the correct amount to pay – with the shadow of the tax man looming if they get things wrong.”

“I’m sure many micro-business owners will therefore be happy to see a major multinational company being made to pay their fair share.”

WANT TO BUILD A FINANCIAL EMPIRE?

Subscribe to the Global Banking & Finance Review Newsletter for FREE
Get Access to Exclusive Reports to Save Time & Money

By using this form you agree with the storage and handling of your data by this website. We Will Not Spam, Rent, or Sell Your Information.
All emails include an unsubscribe link. You may opt-out at any time. See our privacy policy.