Most small business owners in Scotland do not want income tax rates to change, according to a recent survey.
Ahead of the Scottish Budget on 14 December 2017, the Federation of Small Businesses (FSB) polled 315 of its Scottish members and found 58% believe the current rates should stay the same.
Around two thirds (65%) believe an increase would be detrimental to the economy.
A discussion paper was published on 2 November 2017 by the Scottish government, which described the role income tax will play in Scotland’s budget.
It also outlined 4 alternative approaches to the tax.
When asked which of these approaches they preferred, the most popular choice (49%) among the small businesses surveyed was for more bands and rates to be introduced.
Andy Willox, Scottish policy convenor at the FSB, said:
“As FSB warned ahead of the UK budget, trading conditions are already turbulent, and additional tax hikes – for [small businesses] or their customers – are not what we need right now.
“The Scottish government must resist the siren song of a big change budget, and do what they can to steady Scotland’s economic ship.”
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