Red tape cuts a welcome step but Chancellor must go further, says IPSE

IPSE has welcomed the Government’s plans to cut red tape for small businesses, but has urged the Chancellor to go further at next week’s Budget to support single-person businesses.

The Government has accepted recommendations from the Small Business Taskforce, which IPSE’s Head of Policy and Research, Josh Toovey, was part of. These include pausing the Companies House profit and loss filing requirement for April 2028.

The package also includes simpler compliance guidance, easier access to support on GOV.UK and a way for small businesses to report disproportionate regulations.

IPSE’s Head of Policy and Research, Josh Toovey, said:

“It’s good to see the Government acting on the Small Business Taskforce’s recommendations. Pausing the profit and loss filing requirement will spare the UK’s smallest companies, including the many directors who run their business alone.

“But clearer guidance and less form-filling will only get us so far. Single-person businesses are the backbone of our economy, and they need the Government to be bolder. We want to see the Chancellor go further at the despatch box next week, with measures that ease the pressures on our smallest businesses and get the economy and labour market moving again.

“The Taskforce has shown what can be achieved when government listens to small businesses. It’s vital that it keeps listening to our members and the wider self-employed community, who know better than anyone what makes running a business harder than it needs to be.”

ENDS