Business News

February 2011

Businesses Share Common Concerns on Tax

A series of roadshows organised by the Office of Tax Simplification (OTS) has highlighted key areas of small business taxation that those affected say need to be reviewed or simplified.

More than 40 OTS roadshows took place across the UK over the last three months, in locations ranging from Aberdeen to Southampton and Belfast to Cambridge, to give businesses, the public, accountants and tax agents an opportunity to air their views on how the UK tax regime could be simplified. Common issues identified included:

• the volume and frequency of change
• the difficulties caused by different rules for income tax and national insurance
• IR35 and problems over the dividing line between employment and self-employment.

John Whiting, tax director for the Office of Tax Simplification said: “Some points we had already identified, but others provided real food for thought – it’s important we consider all ways to making taxation for small businesses in particular a little easier.”

The OTS started work in September last year, initially looking at simplifying tax reliefs and small business taxation. It will report to Chancellor George Osborne in advance of the 2011 Budget, which takes place on 23 March.

LINK: Office of Tax Simplification

Simon Denton Partner Email: sdenton@milsted-langdon.co.uk