Welcome for tax simplification moves

Tax experts yesterday welcomed moves to remove complex tax rules that hinder small businesses.
By The Newsroom
Published 9th Mar 2011, 21:13 BST
Updated 10th Mar 2011, 21:11 BST

The Office of Tax Simplification proposes the integration of income tax and national insurance contributions, and a radical new approach to taxation for the very smallest unincorporated businesses.

It also sets out a series of options for dealing with the controversial IR35 legislation.

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Anthony Thomas, deputy president of the Chartered Institute of Taxation said: "I welcome the progress which the OTS has made in this area. There is a real need to simplify the way small businesses are taxed.

"Too often sticking plasters have been applied to problems when what was needed was a thorough review. Small firms should be able to make commercial decisions that are not distorted by hasty and ephemeral changes in tax policy."