The findings suggest that small practitioners, who would be most directly affected by a rise in the current threshold from its £350,000 level, support a threshold increase of far more than the £1m which the government is currently tipped to favour.
According to the SPA: 'On average savings of £350 per company might be expected, indicating £87.5m nationally - a considerably lower figure than mooted by the DTI.
'However, one-fifth of respondents said that in real terms this saving would be taken up through improved services to corporate clients given that, for over 90% of clients, the retained professional accountant prepared accounts and dealth with taxation and Companies House matters.
The SPA's report and commentary to the DTI will be issued by the end of November.
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