A report by the Office of Tax Simplification (OTS) calls on the government to prioritise action to 'address long-standing concerns about the experience of smaller businesses'. The report considers the business lifecycle, especially those starting up and provides recommendations in five areas:
- providing simple step-by-step guidance about the key things a business needs to do in its early days to help things run smoothly
- improving the operation of the PAYE system
- implementation of HMRC's Agents Strategy
- improving the mechanics of the Corporation Tax return process
- ensuring that tax changes are built on an understanding of business processes.
If you would like any help with your taxes at any stage of your business life cycle, please do get in touch.
Internet link: GOV.UK simplifying tax