| Business hits out at compulsory e-filing |
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| Thursday, 18 October 2007 | |
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The Federation of Small Businesses (FSB) says that forcing small businesses to file pension administration electronically should be a choice not an obligation.
E-filing pension administration came into force on 16 October. All pension scheme administrators are now obliged to submit an array of information electronically. Submissions required include accounting for tax returns, applications to register a scheme, and event reports. Many small businesses responsible for pension administration still work via postal and fax systems. The FSB says that they should not be forced into making costly changes to working practices and equipment "simply to make the life of some civil servants easier". Mike Cherry, FSB Financial Affairs Chairman, said: “Making electronic filing compulsory is going to add to the burden already faced by small business owners. It is always good to have new options, but this is a not an option, just another compulsory requirement from Government, in an ever-lengthening list that they have to follow." “Business owners are not going to be encouraged to grow, or indeed have the time to dedicate to growth, when they are spending too much of their time having to conform to more red tape.” Related articles Related links |
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