Proposals Which Could See Businesses Report Income Four Times A Year Slammed

Proposals which would see all businesses and the self-employed having to report four times a year on their income have been slammed by the SDLP.

Deputy Leader and MLA for South Belfast, Fearghal McKinney, along with his SDLP colleagues at Westminster, will be pushing the British Government to consult widely before implementing the requirements on small businesses.

Mr McKinney said: "I was concerned to hear that the British Government intends to compel small businesses and the self-employed to report four times a year on their income rather than the current once a year requirement. This would place an overly onerous requirement on small businesses who are already facing significant challenges in light of the financial downturn.

"Small businesses deserve much greater certainty. Many will share my concerns that the burden to report on income four times a year is a step too far. I intend to work alongside my SDLP colleagues at Westminster to prevent this invidious reporting requirement from hampering the growth of small businesses."