17-12-2007
FSB voices pessimism over 2007 "nightmare"
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The Federation of Small Businesses (FSB) has described this year as being "a bit of a nightmare" for small and medium-sized businesses (SMEs).
Simon Briault, a representative for the FSB, believes that a combination of events have resulted in 2007 being a bad year for SMEs, in particular the recently announced changes to capital gains tax (CGT).
The flooding, which occurred over the summer months, was also highlighted.
"What the government can do is stop going after small businesses as an easy target," said Mr Briault.
"We want simplification but not with double the tax bill," he added.
CGT changes were announced by the chancellor Alistair Darling as part of a number of measures in the government's most recent pre-Budget report, which was released on October 9th 2007.
Among the changes was a commitment to end the current system of taper relief.