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The Federation of Small Businesses (FSB) has hit out at HM Revenue and Customs (HMRC), after the tax office launched a new crackdown on thousands of small firms. Speaking to the Independent, FSB National Chairman John Walker warned that HMRC plans to target small and medium-sized enterprises (SMEs) with paperwork spot checks were only likely to add to the pressures already facing businesses and said it contradicted the government’s pledge to cut red tape. “We have spoken to HMRC and expressed our concerns a
However, he suggested there may be some cause for optimism as the new year gets underway. “Clearly 2012 will again be challenging,” he explained. “Confidence is low but, despite the difficulties they face, there is some optimism among small business owners. More than a quarter of our members surveyed recently plan to grow in the next six months.” Mr Orford pointed out that the impending Diamond Jubilee and the London Olympics could provide the UK’s small firms with a timely shot in the arm, and said some SM