Small firms find tax complexities ‘insufferable’
The UK’s tax system is so complex it is “almost insufferable” for small businesses operating in the country.
That is the view of the Chartered Institute of Taxation (CIoT), which said there is a level of desperation among small firms.
It comes after a survey from the Forum of Private Business revealed that small business would be prepared to pay more tax in order to see the system simplified.
Andrew Gotch, fellow of the CIoT, said: “It is a recurring theme that small businessmen find the complexity that has grown up over the last 13 years, in terms of regulation, almost insufferable.
“But it is really a case of ‘be careful what you wish for’ with simplification because it is easy to make things simpler but, given the government’s desperate need for money, it is unlikely that any simplification is actually going to make it cost-effective to pay more tax.”
Posted by Jacob Williams via Tax Assist Accountants.
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