OTS seeks views on tax impact on SMEs

The Office of Tax Simplification (OTS) has published a call for evidence and an online survey to seek views about tax impact on businesses, particular those at the smaller end of the spectrum, with the aim of identifying opportunities to reduce the regulatory burden

The review will focus mainly on smaller businesses, including self-employed individuals. It follows an earlier business lifecycle report on areas such as raising capital and disposing of a business.

The OTS says it is interested in the everyday experience of business owners and managers as they engage with tax throughout the lifecycle, from start-up and registration, through calculating and paying tax, to business closure/transfer.

It wants to hear directly from businesses as well as professional advisers and representative bodies about which parts of the tax system are particularly complex and hard to get right, and to hear any suggestions for improvements.

The OTS expects to publish its report in the spring of 2019.

Open consultation OTS business lifecycle review call for evidence and survey is here.

Report by Pat Sweet

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