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All-Party Parliamentary Small Business Group
www.smallbusinessgroup.org.uk
A survey of owner-managed businesses and their tax
Please take the time to complete this very important survey. The results will be analysed by the Small Business Research Trust and form the basis of a report by the All Party Parliamentary Small Business Group and presented to Government, civil servants and the Opposition.
How many years have you owned your present business? Approximately what percentage of your business turnover is taken in tax? %
How would you describe your main business activity?

Agriculture, forestry, fishing Wholesale trade Financial Services
Mining & Quarrying Retailing Real estate activities
Manufacturing Hotels, restaurants, bars & catering Computer and related activities
Electricity, gas & water supply Transport & related activities Other business services
Construction & building-related activities Post, courier and telecoms Health and social work
Other personal services
What are your main products / services? 1)
2)
Please enter the first two letters of your post code (even if you work from home):
How many employees do you have? Full time:
Part time:
Please indicate the level of turnover of the business for the last financial year:

Less than £19,999 £250,000 - £499,999 £3 million - £5 million
£20,000 - £49,999 £500,000 - £749,999 Over £5 million
£50,000 - £149,999 £750,000 - £999,999
£150,000 - £249,999 £1 million - £2.9 million
What is the legal form of your main business?

Partnership
Limited company
Sole trader
Limited liability partnership
Franchised Operation
In choosing your legal structure, from whom did you receive advice?

Tick all those that apply Rank the three most useful,
with 1 being most useful
Solicitor
Accountant
Business Link
Small Business Service
Company registration agent
Bank Manager
Trade Association
Relation / Friend
Business Colleague / Peer
Chartered secretary
Nobody
Other    
Have you ever changed your legal structure?

Yes
No
Don't know
If yes, what was your original legal structure?

Partnership
Limited company
Sole trader
Limited liability partnership
Franchised Operation
If yes (or if you are in the process of changing your legal structure) what made you change?

To benefit from a lower tax level
To reduce the financial risk
To enable outside investment / raise capital
As a stipulation of a contract
After advice received
To reduce the administrative burden
In order to expand the business
Other - please indicate:    
If you are incorporated, have any of the following regulations affected your business and, if so, how much did they affect your business?
Not a
problem 		A big
problem
IR 35: Which allows the Inland Revenue to treat fees paid to a company or a partnership as an individual's personal salary and therefore liable to Class 1 NICs and PAYE
Section 660A: Known as the "settlements legislation", where an individual (the settlor) enters into an arrangement to divert income to someone else (often a spouse) and, in the process, tax is saved.
0% rate of corporation tax: For profits below £10,000, which only applies to retained profits and those distributed to other companies
Proposed 19% tax on distributed profits: The measure is intended to ensure that when profits are distributed after 31 March 2004 (to individuals or trustees) the profits out of which they have been paid will be subject to a minimum rate of 19% corporation tax.
Would you benefit from a separate legal structure for the self-employed?

Yes
No
Don't know
Not applicable
If so, what characteristics would you like this legal structure to have?

Entitled to claim research and development tax credits   Yes   No   Don't know
Entitled to raise business capital   Yes   No   Don't know
Informal accounts   Yes   No   Don't know
Easy to withdraw capital   Yes   No   Don't know
In law the owner is the manager   Yes   No   Don't know
Limited liability   Yes   No   Don't know
Owners taxed on "business profits"   Yes   No   Don't know
Facility to build up reserves for investment   Yes   No   Don't know
0% tax on first £10,000 pounds of profit   Yes   No   Don't know
Please use the space below to provide any other brief comments on general business income taxation:

All-Party Parlimentary Small Business Group logo    

All-Party Parlimentary Small Business Group
www.smallbusinessgroup.org.uk 		Small Business Research Trust logo