Companies operating out of serviced offices in Northampton may be interested to hear that concerns have been raised about a new HM Revenues and Customs (HMRC) initiative.
The Federation of Small Businesses (FSB) has suggested that if the government body's Business Records Checks proposal is implemented it may be used purely to raise revenue.
Under the scheme, 50,000 small companies would be assessed to see if their records meet reporting standards and fines will be levied if not.
Roger Bibby, FSB economic, tax and finance committee chairman, explained that creating more "bureaucracy" and additional checks for owners to carry out would undermine the government's attempts to promote growth.
He said: "Rather than imposing fines ... it would be more pertinent for HMRC to move to a system where small businesses are encouraged to improve record keeping and understand their tax obligations better."
Elsewhere, the FSB recently told MPs that the main message of the March 23rd Budget should be the introduction of improvements to promote the growth of small firms.
