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| SME taxation 'must be simplified' |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Thursday, 22 July 2010 00:00 |
 Many SME businesses in the City of London and throughout the country are being destabilised by Britain's complicated taxation laws, an expert has said.According to Andrew Hubbard, immediate past president of the Chartered Institute of Taxation, there has been "a lot of quite complex rules that have changed year-on-year" during the recent past, a fact which is negatively affecting small businesses across the nation. A report published by the Treasury earlier this week - July 20th - stated that chancellor George Osborne and exchequer secretary David Gauke have now established the Office of Tax Simplification (OTS) in order to help reduce this problem. Under the new OTS, appointed taxation experts will focus primarily on simplifying issues such as the IR35 legislation prior to the 2011 Budget. Mr Hubbard went on to say that stability is required in the sector so that someone setting up a small business is aware of "what tax regime they are going to need for the next five years" so that they can make long-term plans. Posted by Daniel Frost 
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