Business expectation is that red tape will worsen
According to Bank of Scotland’s latest SME confidence index, almost three quarters of respondents believe that their struggles with legislation will heighten over the next three years.
Additionally, more than half of SME owners believed the need to comply with regulation is hampering their company’s performance intensely. The majority also believe that the UK implements EU law more aggressively than it needs to.
From personal experience I know the weight (in all senses of the word) of legislation has increased and it is increasingly important to check the tax and legal implications of commercial decisions – failure to do so can be very expensive.