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Reduce fines and penalties for small businesses

Comment 2nd July 2010

Introduce a reduced rate for fines and penalties imposed on businesses for very small companies – say less than 5 employees.

Why does this matter?

Fines and penalties imposed on small businesses for trivial offences such as late filing of accounts or corporation tax returns are entirely disproportionate because they are a flat rate for all companies except plcs.  A one person business who has set themselves up as a Ltd company can easily end up with thousands of pounds to pay due to oversights, which are of course more likely for someone who doesn't have anyone to do the admin because they concentrate on their main job.


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