Monday 19 March 2012
The UK's small and medium-sized businesses (SMBs) want a major re-think of taxation, it has been reported.
According to the Forum of Private Business (FPB), 44 per cent wish to see wholesale changes to the structure of the tax system.
Some 24 per cent want certain tax breaks removed to simplify the system and 15 per cent would welcome a moratorium on tax changes.
A third (32 per cent) of tax and budget panel members believe that HM Revenue & Customs (HMRC) could improve service levels via more easily understandable communication methods, reducing bureaucracy in the process.
A total of 29 per cent said better support at key steps in the business lifecycle would help them and 23 per cent wanted reminders about imminent payment deadlines.
In all, 53 per cent of respondents believe HMRC is doing a poor job in supporting them.
Some 52 per cent feel its tone of communication is poor, and 45 per cent that it is doing a poor job over targeting tax avoidance schemes.
In addition, 33 per cent criticised its lack of definitive answers to tax questions and 32 per cent the lack of clarity in its communications.
Phil Orford, chief executive of the FPB, said the Budget is "a real opportunity" to remove the growth barriers for small firms created by the complexity of the tax system.
"It is clearly one that should not be missed," he claimed.
Posted by Steve Williams