50p tax rate 'will stay' - Today's small business news roundup

  • By Josh Hall
  • 9 January 2012
50p tax rate 'will stay' - Today's small business news roundup

50p tax rate staying, businesses in spot check revolt, and shorter working hours - here's your need-to-know business news roundup.

The government has abandoned plans to scrap the 50p tax rate after it was deemed to be politically impossible.

The Prime Minister had intended to reduce the rate, but had faced significant opposition and accusations of hypocrisy at a time when the lowest paid are facing pay cuts. [Telegraph]

Pressure on HMRC is growing over the controversial expanded spot checks regime.

Small business leaders have written to the Revenue to complain about fines being dished out for relatively minor infractions. [Telegraph]

Everyone should work shorter hours in order to combat unemployment according to a new report.

The New Economics Foundation has found that the working week should be cut to 20 hours in order to share work more fairly. [Guardian]

Read more about: Tax and finance , Managing your business , Employee and HR