Help needed from chancellor

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From Toys R’ Us to Toys R’ Bust - City store to close today

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A PORTSMOUTH tax advisor is urging the chancellor to give small businesses a break in next Wednesday’s budget.

James Self, who runs TaxAssist Accountants in Portsmouth, said things like freezing fuel duty, carrying on the employer’s national insurance contributions holiday, increasing the VAT registration threshold and maintaining the £100,000 allowance for tax relief on supplies, is needed.

He said: ‘The S in SME – small and medium-sized enterprises – is often sorely neglected, but small businesses are the backbone of local economies.

‘We know there is very little scope for the chancellor in this budget and we’re not expecting any miracles, but we do want the government to maintain the momentum of growth incentives they’ve already started and add more vital lifelines to sole traders and small firms across Portsmouth.’