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The proposed changes to capital gains tax will not impede the number of new business start-ups, but it is not helpful to small and medium-sized companies, according to Norwest Consultants.
In his pre-Budget report, the chancellor of the Exchequer Alistair Darling decided to taper the relief method of collecting capital gains from businesses.
According to Norwest Consultants, if the government wants to encourage the success of small businesses, it must also significantly reduce the amount of red tape that company directors of SMEs have to deal with.
A spokesperson for Norwest Consultants said: "Its a very stupid thing for the government to do. What they seem to be saying is we dont really care if you build a business, we are not going to encourage you, we are going to encourage you to sit and become property speculators ".
The spokesperson also critised the amount of paperwork and bureaucracy that is faced by small business owners.
"You have so much paperwork to do as a small company. If someone goes off sick youve got reams of paperwork to do. People need to get on with doing what it is they do. We are not working for the government. It is absolutely out of control."
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