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SMEs 'would benefit from change in tax system' PDF Print E-mail
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Latest Recruitment News - HR and Recruitment Legislation News
Written by DirectNews Feed   
Friday, 11 March 2011 00:00
SMEs 'would benefit from change in tax system' Small and medium-sized enterprises (SMEs) across the country would benefit if proposals to integrate national insurance contributions (NICs) and the small business tax into one payment came into fruition.

That is the view of Thomas Parry, research projects manager at the Forum of Private Businesses (FPB), who has said that this move would be of a "big" advantage to such companies.

This measure was proposed yesterday (March 10th 2011) by the Office of Tax Simplification (OTS) in its Small Business Tax Review.

OTS noted that SMEs would no longer be tied up by as much legislative red tape if the payments were rolled into one, more easily-manageable system and Mr Parry has spoken out in agreement of this.

The FPB official stated that his organisation has been calling for such a step for "a number of years", as it is "easy to deal with them both at the same time rather than having to worry about one or the other".

Posted by Daniel Frost
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