FIELDREPORT


property by a multiplier (also known as 'poundage'). In Scotland and Northern Ireland they are still based on property value, but are calculated slightly differently. The SNP have been operating a Small


Business Bonus that can eliminate or substantially reduce the tax paid as business rates for eligible small businesses located in Scotland. The scheme applies to businesses in Scotland with properties with a combined rateable value of £35,000 or less. The scheme is administered by Scotland's local councils on behalf of the Scottish Government. The SNP plan to continue the Small Business Bonus, which is currently benefitting 96,265 businesses in Scotland (in April 2015).


Conciliation Service and Late Payments A plan to establish a new Small Business


Bureaucracy A target to cut red tape by £10bn in the next


parliament, with businesses feeding into the consultation process.


Business rates A review of business rates to help high street


businesses that are “striving and graſting and trying to do their best,” to quote David Cameron. Most of the political parties picked up on the


groundswell of opinion that business rates are not fit for purpose. The good news is that the Conservatives are looking to review rather than freeze or reduce rates. Industry experts including the British Retail Consortium (BRC) have been calling for a fundamental review and overhaul of the rates system, rather than more tinkering around the edges. Currently Business Rates in England and


Wales are calculated by the relevant local council by multiplying the rateable value of the


At the start, any


tightening of business payment windows may impact negatively on small retailers’ cash flow, as customers pay instantly at the point of purchase but the retailers may be paying suppliers with a longer payment window


20 SGBGOLF


Conciliation service to mediate in disputes, especially over late payments. Late payments really refer to the issue where small business manufacturers, producers or service providers are paid late by business customers. It is estimated that small businesses are owed


£32bn in late payments, but are oſten unaware of their rights or are unwilling to take legal action, fearing they may lose business and fall out of favour with larger organisations. In the SNP Business Manifesto, First Minister Nicola Sturgeon outlined that the SNP MPs at Westminster will also seek to ensure small businesses are paid on time by pushing for prompt payment measures to be put into law. At the start, any tightening of business


payment windows may impact negatively on small retailers’ cash flow, as customers pay instantly at the point of purchase but the retailers may be paying suppliers with a longer payment window. Although this may cause some short-term problems for independents, in the long term, clearer and tighter supplier payments is better for business. It will aid the survival of small suppliers and protect the supply chain.


Easing the Tax Burden A plan to keep Employment Allowance until


2020, which allows employers to reduce the amount of National Insurance contributions


they pay for their employees, and putting in place a “significantly higher permanent level” for the Annual Investment Allowance. You can currently claim Annual Investment


Allowance (AIA), on up to a total of £500,000 spend on plant and machinery, which covers items such as air conditioning/CCTV, building alterations (not repairs) and electrical and lighting systems.


Supporting Entrepreneurs A target to treble the number of start up loans given out in the next parliament-up to 75,000.


Government Spending Raising the target for SME’s share of central government procurement to one third.


Infrastructure A commitment to invest over £100bn in


infrastructure over the next parliament, with the biggest investment in rail “since Victorian times”. The SNP will be calling for HS2 to connect to Scotland as a priority and for a high speed connection between Glasgow, Edinburgh and the north of England as part of any high-speed rail network. The new Business Secretary Sajid Javid


does not have small business background, but with a degree in economics and politics and a background in investment banking, he should have the understanding that the high street and small business are central to any healthy economy and vital to a balanced UK wide recovery. The new small Business Minister Anna Soubry, MP for Broxtowe in Nottinghamshire, has a proven track record working with small businesses and a reputation for a pragmatic, no nonsense approach. She has supported retail businesses in the area badly affected by the late and extensive tram works, winning a hardship fund and extra compensation for traders. A criminal barrister, with a background in local news reporting, she brings different experience. Javid and Soubry will hopefully prove to be


an effective complementary force for independent retailers, getting to the real issues that are holding the high street and retailers back.


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